Submitted by City of Westfield
The City of Westfield announced on Wednesday a record-breaking year for residential building permits issued in 2020. The total number increased to 1,062 permits issued despite the COVID-19 pandemic.
“These numbers are evidence that people want to be in Westfield. That speaks volumes on the quality of life here and our wonderful community,” Mayor Andy Cook said. “As we bring in more homes, data shows that we are also adding more businesses to our local economy. All together, these are great indicators that we are doing things right in Westfield.”
Todd
Cook
“Permits are indicators of future tax revenue coming in to Westfield,” Community Development Director Kevin Todd said. “As we continue to respond to the market, Westfield is seeing a mix of residential and commercial activity. In fact, we also saw a record number of commercial permits 2020. This balance is important for city’s long-term financial strength.”
Last year, Westfield was named one of the “Top 10 Places to Live in America” by Money Magazine. The city is also listed among the safest cities in Indiana and has one of the top high schools in America. These recognitions are among a long list of amenities that drive people to the city including Grand Park, a 400-acre sports campus that is home to the Indy Eleven professional soccer team and the Indianapolis Colts Training Camp, award winning parks and more than 110 miles of trails. The city is also currently redeveloping its historic downtown district and constructing the long-awaited, community-inspired Grand Junction Plaza.
The Builders Association of Greater Indianapolis (BAGI) recently released 2020 numbers of single-family building permits in the Greater Indianapolis area, seeing an overall 24 percent increase in the area compared to last year. The data notes Hamilton County to be the most active for new home construction with a 13 percent increase over 2019. Westfield led Hamilton County making up approximately 40 percent of the 2,607 permits issued county-wide.
According to BAGI, 2020 permits issued in the Greater Indianapolis region have created a total economic impact of $1,552,477,490 in local income, $352,438,091 in local taxes and 26,284 local jobs. The median price of new homes in the area in 2020 increased by 4 percent to $321,927, the highest of the decade.
Click here to learn more about BAGI and view the annual county data.