Latest news with #LafayetteSquareMall
Yahoo
01-06-2025
- Business
- Yahoo
Top 5 Cities Where Tiny Apartments Are Big — and How Much It Costs to Live There
As typical rent prices across the U.S. reach more than $2,000, many Americans struggle to find affordable rental housing, according to recent research from As new graduates seek apartments, it puts more upward pressure on rent prices. Read Next: Discover More: This spring, multifamily home rental prices have edged up by 0.7%, up to $1,849 for a typical apartment, wrote in its March Rent Report. The solution for many renters? Tiny apartments, or micro-housing. Developers are converting space in dying or defunct malls across the country into micro-apartments, like the ones at The Arcade, a historic mall building in Providence, Rhode Island. Similarly, the Lafayette Square Mall in Indianapolis is planning to open 1,200 apartments in a former Sears building in 2025, reported. But the biggest demand for tiny apartments is on the West Coast, according to a new study from San Francisco ranks the highest or available micro-units and also shows the biggest cost savings for renters who can cram themselves and their belongings in a space that maxes out at 415 feet. According to research, some tiny apartments in San Francisco measure as small as 124 square feet. If you're reading this from the comfort of a spacious, 3-bedroom suburban home, 124 square feet is just slightly larger than a 10′ x 12′ bedroom you might have in your house. Most micro-units have a maximum size of roughly 415 to 440 feet to be considered 'micro' by zoning laws. But you'll find outliers. For instance, the smallest of the tiny apartments are in Honolulu, Hawaii, where a unit must be under 348 square feet to be considered 'micro.' Let's take a look at 5 cities where micro-units make up more than 10% of the city's available rentals. City Avg. size of tiny apt. % of micro-units Avg. Rent for Micro-unit Savings compared to traditional apartment San Francisco 415 14.70% $1,888 $1,628 Seattle 405 12% $1,289 $1,099 Honolulu 348 11.60% $1,700 $562 Portland (OR) 408 10.70% $1,144 $635 Minneapolis 433 10.40% $1,078 $661 More From GOBankingRates Surprising Items People Are Stocking Up On Before Tariff Pains Hit: Is It Smart? 10 Unreliable SUVs To Stay Away From Buying This article originally appeared on Top 5 Cities Where Tiny Apartments Are Big — and How Much It Costs to Live There Sign in to access your portfolio
Axios
26-02-2025
- Business
- Axios
Shifting the Black-owned business conversation in Indy
As Indianapolis' Black-owned business gaps persist, local leaders want to shift the conversation on equitable business development in the city. Why it matters: Year-over-year spikes are encouraging, but experts say the fragility of those figures will be exposed if we fail to surround minority firms with the proper framework. Driving the news: The topic of consistent Black business growth took center stage earlier this month during GANGGANG's State of the Culture event, which included a discussion about " In the Mix," a commercial real estate and retail initiative launched by the creative advocacy agency to help Black-owned businesses open brick-and-mortar locations downtown. Zoom in: Antonio Maxie, owner of the Nap or Nothing clothing shop, and local architect Kionna Walker took part in the talk. Maxie was one of the first "In the Mix" participants and his involvement helped him move Nap or Nothing downtown after eight years in Lafayette Square Mall. Following a two-and-a-half-year run on Mass Ave., Maxie is on the move again, opening a new Nap or Nothing location this month in Fountain Square. What he's saying: Maxie says he has a deep love for the near-decade he spent in Lafayette Square, but moving to Mass Ave. opened new doors, such as collaborating with companies like Ruffles during the NBA All-Star Weekend celebration. "I always get people asking me, 'Which one was better?' But I feel like it's just a timestamp, and we had seasons in each place," he said. "Lafayette Square was a great season for me to develop and become the entrepreneur you see today. And Mass Ave. allowed us to shine on a bigger stage and allow more eyes to see the brand, and I'm grateful for that." State of play: GANGGANG co-founder Mali Bacon said the launch of "In the Mix" brought with it some hard truths. In particular, lack of property ownership means progress would always be on someone else's terms. Because of that, Bacon said "In the Mix 2.0" is altering its focus from placements to building ecosystems. "The shift is clear; it's no longer just about setting up businesses, but about fostering entire cultural districts. Spaces designed by and for the community," she said. "The new framework stresses collaboration, ownership and density to create energy and resilience within these communities." What's next: As minority business hubs are developed, Walker warns of the complexity in navigating urban development, from securing funding to understanding zoning laws. Early and meaningful engagement with the community is key to fostering trust and avoiding a disconnect between developers and residents. She added that people with the power to act as cultural brokers and speak on behalf of neighborhoods can ensure these businesses see sustained success once they move in.
