The Forge to open in Bloomington’s Trades District
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After just over a year of construction, officials in Bloomington will Friday mark the opening of a $13 million, tech-centered office space in the city’s downtown Trades District.
The Forge is a three-story, Class-A office space on the district’s southeast corner that will serve as a place for tech startups as well as a coworking space for remote workers.
“It’s a fantastic building that’s in a great location for tech companies—companies that are in the innovation space that want access to a tremendous pipeline of talent, but also to be in close proximity to a number of other big innovation assets like Crane to the south and 16 Tech to the north,” said John Fernandez, senior vice president for innovation and strategic partnerships at The Mill in Bloomington.
In an interview with Inside INdiana Business, Fernandez called the project a critical piece of the puzzle for the Trades District.
“We’ve always had a real gravitational pull here for the district, for early stage companies and startups,” he said. “Having a new office space where more mature companies, or growth-stage companies can locate really adds even more to the community that we’re building.”
Development of The Forge—and the Trades District as a whole—is led by The Mill, a nonprofit business accelerator in Bloomington.
Ground was broken on the project in October 2023. The federal Economic Development Administration previously estimated the project will create 530 jobs and generate $51 million in private investment.
Fernandez said The Forge is opening at just over 50% occupancy, which was the developer’s goal. He added that there are two “strong” prospects for additional tenants that would bring that number up to 86% occupied, though details were not provided.
“The pipeline has been incredible. This is the first new office building in downtown Bloomington in a long time. So there’s pent up demand,” Fernandez said. “We still need to do the tenant build outs. It’ll be tailored to the specific needs of individual companies that are locating in the building.”
The development is also part of an effort to create a tech corridor between the 16 Tech Innovation District in Indianapolis and Naval Surface Warfare Center, Crane Division in Odon. Being located in the middle, Fernandez said, adds the connectivity within the ecosystem and create and keep jobs in Indiana.
That’s the most important thing we can be doing,” he said. “In Indiana, I think it’s about 75% of all net new job creation is coming from companies that are five years old or younger. We need to nurture that and build an ecosystem that’s really conducive to keeping talent here so that they’re translating their ideas and and innovations into products and companies that grow right here in Indiana.”
The Forge is also part of an overall vision to create a greater sense of community in downtown Bloomington, particularly among young workers.
“We’re looking at a curated density project, where you have mixed uses of employment, amenities, places that can really attract talent and retain talent in our community, and knowing that they’re part of a thriving innovation community and and tech economy,” he said.
Fernandez said while Bloomington has a very active downtown, it skews toward a younger crowd due to its proximity to Indiana University. The city has lost a lot of population in the 25-44 year-old demographic, he said, and so The Mill is trying to curate a place for young professionals to put down roots.
Future plans for the Trades District include a 160-170-room hotel, previously estimated at $35 million, that will be located next to The Forge and include restaurant and bar space with the goal of generating more engagement and energy in the neighborhood.
A mixed-use housing development is also being considered for the district.