Is Anderson really in that bad of shape? (Muncie, Lafayette: section 8, for sale)

[gent3278]

I was reading yesterday's herald bulletin and I was shocked to see that they are very likely going to close more schools. They are also considering closing one of the High Schools. The latest statistics show that they lost over 350 students as compared to last years numbers. My wife and I along with our 2 kids recently moved to Cookeville, TN to pursue a business venture and I am wondering if this is becoming a trend. We also still own a business in Anderson and are very concerned about the future of this city. Any thoughts?

[grmasterb]

Anderson is dying. Other than the Nestle factory and a decent small college, that's all about it has going for it.

[Ravekid]

Originally Posted by gent3278

I was reading yesterday's herald bulletin and I was shocked to see that they are very likely going to close more schools. They are also considering closing one of the High Schools. The latest statistics show that they lost over 350 students as compared to last years numbers. My wife and I along with our 2 kids recently moved to Cookeville, TN to pursue a business venture and I am wondering if this is becoming a trend. We also still own a business in Anderson and are very concerned about the future of this city. Any thoughts?

Right now, Anderson is a rough time. Their economy was based heavily on the Big-3 auto industry and bloated factory wages for the workers. As such, there are a lot of retired baby boomers and older that have money, but their old jobs aren't there for their kids and grand kids. Put it this way, when my wife's family moved to the area when she was around five years old (she is 27 now), they were told to avoid Anderson (that was where her dad's new job was). They instead moved to Noblesville, which was a smart move. Now her mom is involved in the schools up there. They actually have the smart Section 8 renters (ie: The working poor who have a good head on their shoulders, but they just don't have money) who constantly look at getting out of Anderson and into Noblesville for the better schools. Also, they had family friends who kids moved from Anderson to Noblesville and they tested a full grade lower and had to have remedial education.

This was around twenty years ago and it has only gotten worse. When I was growing up, my neighbor owned a shop in the Mounds Mall. I went there a few times with friends on a road trip type deal. Mounds Mall kinda reminded me of Washington Sq. mall on the east side of Indy...that is a dying mall. He actually sold his shop to an employee, because I think he saw the writing on the wall.

Anderson has a brighter future, but not until the next boom in population growth. It is going to take a while as this country is so screwed up, and I see things getting worse before they get better. Anderson could also easily become one big Detroit, as when the UAW baby boomers start passing away in large numbers, their kids, who likely have moved closer to Indy if they stayed in state, could easily sell the homes to Section 8 renters, or become Section 8 renters themselves. If this happens, Anderson could see major issues.

The question really is how will growth be in the next ten years in east central Hamilton Co.. Noblesville is growing that area and making it more commercial/light industrial. There is a planned bridge at Olio. Rd. over I-69 and Deer Creek/Verizon Wireless Concert venue owners have put the property up for sale before and likely will do the same. This is key because if this area can grow and provide decent jobs, Anderson could become a suburb of this area, which could help stabilize the job situation there.

If I were you, I would sell that business if at all possible. Right now, I wouldn't want to risk anything in this economy and with the direction this country is heading.

[cdr18]

From what I hear, Anderson is a dying city.

[mkat321]

I was stunned by the condition of the vast majority of Anderson when my husband and I stayed there this past winter. {he had a guard drill in Muncie and all the hotels there were booked out} The new Wal-Mart and other new strip mall type places near the racino look good and seem to do a brisk business, but just a few minutes away the mall is as another pp said, a near-twin to Washington Square/Lafayette Square in terms of occupancy rates and variety/# of name brand stores. The houses between these two areas and in other parts of town we saw briefly while driving around one afternoon seem to be in the same half-upkept state as the mall. I would sell or place the property in the hands of a reputable professional real estate rental company if you can't afford to sell it.