A Blueprint for Suburban Transformation

In less than one decade, Fishers, Indiana, a once modest suburb northeast of Indianapolis, has undergone a dramatic transformation, emerging as one of the state’s most dynamic urban hotspots. Anchored by strategic investments in infrastructure, entertainment, and mixed-use development, Fishers has redefined what suburban growth can look like, blending economic vitality with a vibrant community atmosphere.  

At the heart of this transformation lies the Fishers Event Center, a 7,500-seat venue that opened in November 2024. Now home to the Indy Fuel, Indy Ignite, and Fishers Freight, the Event Center has quickly become a magnet for sports, concerts, and community events. Within just six months of opening, foot traffic surged by 278%, emphasizing the continued appeal in the area. These areas have evolved into lifestyle destinations, offering a rich mix of retail, dining, and entertainment options that draw consistent foot traffic and support a thriving local economy.  

The numbers tell a compelling story. Since 2015, Fishers has experienced a 15.7% population increase and an 11.6% rise in jobs. Commercial real estate within the one-mile radius of the Fishers Event Center has expanded by nearly 50%, reaching more than 3.3 million square feet (msf). Leasing activity hit 884,070 square feet (sf) in 2025 alone, while vacancy rates plummeted from 17.6% in 2024 to just 6.4% in 2025. Industrial and retail spaces are nearly fully occupied, each with a vacancy rate of just 0.8%. Retail spending has soared to $1.5 billion annually, led by food, home goods, and entertainment spend totaling $105.9 million.  

Hospitality and residential development have recorded similar growth. Between 2019 and 2024, hotel room inventory increased by 372%, with 82.5% of rooms built in that period. Two additional hotels, adding 235 rooms, are proposed for 2026 to 2027. On the residential side, the multifamily housing market has more than doubled, decade-over-decade. From 2015 to 2025, 1,653 new apartment units were added, a 111.4% increase across nine buildings, with three more projects totaling 681 units and 541,000 sf in the pipeline.  

This surge in development reflects broader lifestyle shifts favoring walkable, amenity-rich communities. Fishers has embraced this trend, creating a dense, mixed-use urban core that supports both economic growth and quality of life. The city’s strategic planning and investment have not only accommodated its growing population but also positioned it as a model for smart, sustainable urban development.  

Together, these trends paint a clear picture: this area is not just growing, it is thriving! What was once a quiet suburb has become a beacon of innovation and opportunity, a place where people can live, work, and play.