University Square's future looks promising, but developers have a long way to go before the Village will be restored to a thriving district.
Cleo's and cardinal cupcakes and coneys opened shortly before Winter Break, but no new businesses have signed leases with Milhaus Development in the past several months, David Leazenby, vice president of pre-development, said.
"No one's signed up yet beyond what's already there, unfortunately," he said. "Once spring comes, we're optimistic we'll have something. That time of year always brings more interest to get somebody signed up so we can get them placed before the next school year."
Cardinal cupcakes and coneys opened mid-November and Cleo's Bourbon Bar opened in December. Ball State's Winter Break offered a slow start for the new businesses, but both have seen a steady increase in sales since students returned to campus.
"People attending during the break dropped off," Chris Ellison, Cleo's owner, said. "So, we just had those couple of weeks that [sales were] kind of off, but once school came back, there was no loss. We've increased sales and the number of people coming to our doors has gotten higher every single weekend ever since school came back."
Melissa Bucur, cardinal cupcakes and coneys owner, said people are slowly hearing about her shop and business has increased lately.
Bucur has taken steps to avoid losing money during the winter months. Cardinal cupcakes and coneys closed Dec. 24, 2011 to Jan. 9 since students were gone. The shop also reduced employee hours enforces winter operating hours, but will likely extend them this spring.
"I think more people are starting to find out about us, but it still amazes me when students walk in and are like, ‘How long have you been here? I've never been here before,'" she said. "It amazes me that it has happened every day."
OFFERING VARIETY
Indianapolis-based real estate, development and consulting company Milhaus Development purchased University Square for $1.29 million in April 2011 after previous owner Myles Ogea declared bankruptcy.
Many students and business owners saw the purchase as a fresh start to restore the Village as a thriving district.
Michael Hicks, director of the Center for Business and Economic Research, said he isn't quick to blame Ogea for all the Village's problems because the 2008 recession hit everybody hard, but there has been a lot of turnover in tenants in the Village for the past decade.
Hicks said bars will always be popular among college students, but Milhaus needs to find a variety of businesses to bring into the Village.
"You want to have a place an 18- to 20-year old can go because that's the majority of college students," he said. "You want to have a place where you can have a beer, you want a place where you can take a date and you want a place you can take Mom and Dad."
Leazenby said bringing in restaurants is Milhaus' first priority, and the company is looking for other businesses such as a coffee shop, salons, spas, clothing stores and wireless companies.
Ellison said he plans on opening a Chicago-style pizzeria in the Village, but doesn't know when.
Bucur said she thinks Milhaus will be able to fill up University Square.
"I think they still have work to do, they know that," she said. "They're wanting to put more effort into helping the rest of the Village get up and going. I think it's a process and some people see it as a slower process.
"It's just a matter of them getting down here and getting the Village back to what it was when I was a student here."
FOOT TRAFFIC
Having a variety of businesses is just one aspect of improving University Square.
Having more businesses in a particular area creates more foot traffic, Hicks said. That foot traffic helps make other businesses more successful.
Bucur said she can see how the lack of businesses in University Square has affected cardinal cupcakes and coneys.
"The Village, or this building, has sat idle for years," she said. "I think I'm anxious and looking forward to more businesses coming into the building because I think that will only drive more foot traffic."
Ellison, who also owns The Silo in downtown Muncie, said even though he already offered free transportation from the Village to downtown with The Silo bus, opening Cleo's has helped increase business at his downtown bar.
"The fewest attendees of The Silo were college students, and now we're starting to get more college students down there than we ever have before," he said. "And I think the fact of this unifying downtown and the Village with the bus, that's what's going to keep us successful in the Village."
Ellison said he's confident his businesses are headed in the right direction.
"We're here to stay. We're not going to be one of these [businesses who] two years in, they're gone," he said. "We plan on becoming a part of the community, not just using the university for a short term."
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