Creating A Co-working Space To Support The Local Economy

creating a co-working space

New York-based company SomeraRoad Inc. announced its plans to redevelop the historic Stutz complex in downtown Indianapolis. Therefore, the company estimates a $60 million effort to build a public car museum, event space, retail, and hospitality suites. In addition, the plan includes creating a co-working space.

After the pandemic, creating a co-working space is one of the most popular ways to help the local economy. Mainly for historical buildings and landmarks, a work-friendly environment is the first strategy to cope with the lack of tourism and travel restrictions. 

Creating A Co-working Space To Support Local Economies

In the same vein, SomeraRoad’s owner acquired the historic Stutz complex from Turner Woodard last January. In short, the goal of the redevelopment project is to create a dynamic environment for leisure and work. 

As Founder and Principal, Ian Ross, says: “Our team has taken great care to learn the property’s history and develop a thoughtful design that celebrates its most unique architectural features. We believe this project can be a catalyst for development on the northside of downtown Indianapolis that can blossom into a live-work-play district full of opportunities for all residents. This iconic building stands at the heart of this neighborhood, and we are delighted to share these new plans for it.”

Therefore, the New York firm will include solutions for small and mid-sized businesses. The new co-working space is 2,000 square feet. In addition, SomeraRoad plans include: 

  • new office space.
  • locally-curated dining and retail amenities. 
  • more than 21,000-square-feet of event space across three venues. 
  • landscaped pedestrian alleyways.
  • fitness amenities. 
  • arts space.

SomeraRoad’s redevelopment plan should be ready by spring. Thanks to vaccination campaigns, people are returning to the office. However, creating a co-working space for work and leisure is a top strategy to deactivate local economies. 

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