Bloomington-Normal has a lot to offer prospective companies and employers. But one area in which the area comes up short? Housing.
“People would take jobs here if they could find somewhere to live,” said Patrick Hoban, head of the Bloomington-Normal Economic Development Council. Speaking Thursday at the quarterly BN by the Numbers business briefing, Hoban identified housing as one of the area’s most pressing economic needs.
The area doesn’t just need more housing, Hoban said. When it comes to meeting growth demands, diversifying the housing stock is an important factor.
“Right now, we have a lot of new residents in the community, and not all of our residents are ready for a three- to five-bedroom family home,” Hoban said.
Instead, newcomers are looking for housing options similar to what’s available in places like Chicago, or on the coasts.
“Something that’s a little bit smaller but still upscale,” said Hoban, also emphasizing a need for planned walkable communities.
The EDC has hired Development Strategies, a St. Louis-based firm, to analyze the area’s housing needs. “This study is hopefully going to show us the demand for the diversity in housing,” Hoban said.
Part of the demand could be met by renovating existing properties, like those near downtown Bloomington. Bloomington City Council member Jamie Mathy has proposed a study of ways to incentivize renovation and new construction in the city’s historic core.
Mathy, who attended Thursday’s event, said addressing the growing need for housing requires a focus on both new and existing stock.
“We’re going to need new houses. We’re going to need to continue the developments we already have,” said Mathy, referencing platted developments on the east and southwest sides. “But we have to fill in the middle, too. Because the farther out we go, the more money (it costs) to provide basic city services. And we’re going to reach a point of unbalance.”
Hoban agreed that balance is important, and that downtown has a key role to play in future development.
“I'm a big fan of incentivizing development in targeted areas,” he said. And historic, multi-family homes could appeal to an incoming workforce that’s trending younger.
That’s a demographic that’s very much on Hoban’s mind.
He has been soliciting feedback for a branding campaign in the hope of landing on a unified, consistent messaging strategy for Bloomington-Normal. “We need an identity,” he said. “Right now, whenever you have a visitor in town, or prospective visitor, or I go talk to somebody — we all tell them something different.”
Asking people to crystalize what makes Bloomington-Normal special, Hoban often hears that it’s a good place to raise a family. While that’s true, he said, younger workers being recruited into places like Rivian aren’t necessarily concerned with family-friendly amenities.
The EDC is taking branding seriously. They’ve retained DCI, a firm that specializes in community branding strategies. And they’ve hired a full-time marketing manager to help implement a cohesive “community vision.”
Hoban said more than a logo or slogan, a marketable brand is a key component of economic development.
“A brand is a promise that I’m making to you. And whenever you leave this conversation, hopefully you go make it to somebody else,” he said.
This story has been updated to reflect the scope of Council Member Mathy's ward. It does not include downtown as previously written.
