A technology office hub is emerging as a place for entrepreneurs near Indiana University with the goal of growing the regional economy.
The Forge opened in November as the latest Bloomington, Indiana, building ready for tenants in the downtown Trades District, where startups can launch and scale their business. The Trades District was selected by local industry professionals as winner of the 2025 CoStar Impact Award for development of the year in the Indianapolis area.
Even before completion, The Forge, a 20,000-square-foot Class A project, had secured an occupancy rate of 66%. Folia, a growing Bloomington software company, was one of the firms that leased space there.
Backed by Indiana University's $16 million College and Community Collaboration grant from Lilly Endowment, The Forge was designed with sustainability in mind. The newly constructed building integrates cutting-edge energy-efficient systems that reduce carbon emissions and operational costs.
About the project: A standout feature of The Forge is its green roof, which enhances insulation and mitigates the so-called urban heat island effect, the phenomenon where cities and their hard surfaces experience higher temperatures compared to surrounding rural areas. Additionally, the roof manages stormwater runoff, and a solar energy system is expected to generate nearly 30% of the building’s electricity needs.
Inside, The Forge features spaces for collaboration and adaptability. A communal kitchen fosters tenant interaction, while built-to-suit offices allow businesses to customize their work environments.
The 12-acre Trades District is managed by The Mill, a Bloomington-based nonprofit organization dedicated to supporting entrepreneurs and building a community for innovation. The Mill provides workspace, educational programs and other resources intended to incubate fledgling businesses.
They made it happen: The Mill's Senior Vice President John Fernandez and Program Manager Abby Resnick.