The potential of Michigan City’s residential and commercial real estate markets took center stage at a recent fall breakfast event.

Presenters shared new studies, research and analysis. Laurie Volk, Zimmerman-Volk Associates co-managing director, spotlighted the opportunities and need for housing across the city and in targeted areas: downtown, the Northeast, the Northwest and the Southside. The study drilled down the potential number of units for rent, detached homes and for-sale condos and townhomes and the demand for nearly 3,000 new housing units over the next five years.

On the commercial side, the team centered on the Franklin Corridor in its market assessment. Paul Lippens, Toole Design Group principal urban designer/Michigan market lead, and Donovan Smith, McKenna principal planner, detailed how the retail arena continues to change and the huge unmet demands in Michigan City.

The research highlighted the changing landscape of retail that goes beyond shopping and essentials to an experience that should drive design and development.

“There needs to be zoning reform for industrial spaces, such as allowing for partial retail and entry showrooms, street access and patios, to give people experiential experiences,” Smith said in a press release.

Lippens showcased how Franklin Street has interesting architectural assets and a need for people-friendly avenues, such as bike systems.

“Michigan City is a star; it’s a gem in our Midwest trade areas. The city needs to feel safe – even something as simple as crossing the street needs to feel safe and clean,” Lippens said. “Include business owners who have been invested in your community for some time in the new experience you’re trying to design.”

Skyler York, Michigan City director of redevelopment, said land uses should refocus on short- and long-term development goals.

“Michigan Boulevard is an opportunity waiting to happen,” York said. “We can make it another extension of our downtown. It can be redeveloped to create more density and to be more pedestrian-friendly.”

Clarence Hulse, EDCMC executive director, said the studies have added another lens to look at future development on both the residential and commercial sides.

“We look forward to putting together and implementing our next development steps,” Hulse said. “The market analysis demonstrates that Michigan City is a safe investment bet and we are ready to move to the next level.”