Gary Indiana - University Park
Housing in University Park
University Park is presented with a number of challenges it must address and a number of opportunities it can take advantage of to achieve its vision of the future.
University Park is organized into approximately. 25 residential blocks that are home to a low rise housing stock of bungalows and single family homes.
- The population of the area has been declining. Between 1990 and 2000 the population, within one mile of University Park fell from 14,000 to 10,350.
- There are a high number of vacant housing units in the area.
- More than 50% of homes show some deferred maintenance and an additional 14% are in a deteriorated condition.
- Median home values are lower than elsewhere in the region for comparable units.
- There is a significant amount of vacant lots on residential blocks, and larger areas of vacant land where residential blocks were not completed.
- There are few options for single people, small families or seniors who do not want a single family home.
- There are indications that the population decline has slowed in recent years.
- The housing stock is basically sound, with most units requiring moderate improvements.
- Vacant lots offer opportunities for new single family housing.
- Larger parcels of vacant land within neighborhood and along the Broadway corridor provide opportunities for new types of housing to meet community needs.
- There is market demand for single family homes, townhomes and rental apartment units.
- In addition to the 225 units sold each year in the Glen Park area as a whole, between 45 and 55 new units could sold each year.