Since its creation, the Indianapolis Cultural Trail in the heart of Circle City has drawn millions of residents and visitors to its distinctive paved path. But according to a new report, the trail isn’t just beneficial for those looking to get out on an urban stroll or bike ride — it’s a driver for the city’s economy and quality of life.

The report, “Indianapolis Cultural Trail: A Legacy of Gene and Marilyn Glick at 20: Connecting People, Places, and Possibility,” was based on analysis by James Lima Planning + Development, a group of real estate, planning and economic development advisors. Here’s what to know about the report.

How has the Cultural Trail affected the city’s growth, development?

According to the report from 2026, the 10-mile trail has generated $3 billion in assessed property value around its path — money that supports the city and its governmental services.

The population along the trail has grown five times the city average and retail space near the trail has increased 39%, the report shows. Nearby food and beverage sales are almost twice the average per square foot in Indianapolis.

Additionally, the report shows, undeveloped land along the trail has the potential to add $1.4 billion of value in the near future. Since an initial study in 2015, the trail’s economic impact has grown from $1 billion to $3 billion.

“For nearly 20 years, the Indianapolis Cultural Trail has helped transform Downtown Indianapolis into a more vibrant, connected and economically competitive city,” Mayor Joe Hogsett said in a June 3 news release. “It is more than a trail. It is a nationally recognized public asset that drives investment, supports local businesses, connects neighborhoods and improves quality of life for the people who live, work, play and stay in our city.”

May came and went, and with it, we saw the closest Indianapolis 500 finish in history, the 150th anniversary of Eli Lilly and a contested primary election day.

There’s also been some movement in retail news ahead of the summer shopping season. On the north side, a new women’s clothing store opened while a piercing studio set up shop in Speedway. Meanwhile, an indoor children’s play place opened on the near north side.

Read on for four spots that recently opened and one in Broad Ripple that said farewell.

Restaurant news: Milktooth pivots, Westfield nets fish market, brewery

Openings

Monkee’s

8659 River Crossing Blvd., monkeesofindianapolis.com, opened in March

Monkee’s of Indianapolis, a high-end women’s clothing store, opened recently on the north side in the Shops at River Crossing near the Fashion Mall. The brand Monkee’s started in the South three decades ago and has since grown to nearly 70 locations. In Indianapolis, Missy Llewellyn and Whitney Schmitt started the franchise to bring the clothing brand to the Circle City.

The Nest Play Cafe

515 E 22nd St Suite 101, indynestplaycafe.com, opened early May

The Nest Play Cafe opened at the corner of Central Avenue and 22nd Street, offering an indoor space for parents and caregivers to bring their children to play. Caregivers can book 90-minute play sessions for $15 per child over the age of one. Tickets for additional siblings run $10. The cafe sells coffee and snacks, too.

Open Monday, Wednesday and Thursday 8 a.m. to 4:30 p.m.; Friday 8 a.m. to 6:30 p.m.; Saturday and Sunday 8 a.m. to noon. Closed Tuesdays.

Forget Me Not Piercing Studio

5324 W. 16th St., jessflowerspiercings.square.site, opened May 27

A new piercing studio opened in Speedway at the end of May just days after the Indianapolis 500. Forget Me Not Piercing offers traditional lobe, helix and conch piercings along with nostril and septum piercings. Artist Jess Flowers opened the one-woman shop on 16th Street.

Open Sunday and Thursday 1 p.m. to 5 p.m. and Wednesday, Friday and Saturday 1 p.m. to 7 p.m.

Black Orchid Barbers Fountain Square

1201 Prospect St. Suite 100, blackorchidbarbers.com, opened in May

Black Orchid, a local barbershop known for its sharp haircuts with a side of humor, opened its Fountain Square spot, marking the company’s seventh brick-and-mortar location. Walk-ins are welcome but Black Orchid recommends grabbing a time slot online for your preferred service.

Open Monday through Saturday 10 a.m. to 6 p.m.

Closures

Vitality IV Bar

6302 Guilford Ave., vitalityivbar.com

An IV-wellness spot in Broad Ripple shut its doors last month. Vitality IV Bar was located next to the Thieves cocktail lounge, formerly the Broad Ripple Starbucks location, before it went out of business.

Vitality IV still operates an Indianapolis-area location on Mass Ave downtown at 749 Massachusetts Ave where customers can book a variety of infusions with vitamins.

More: IV drips aren’t just for hospitals anymore: The rise of IV therapy spas for wellness

See a store opening or closing near you? Contact IndyStar reporter Alysa Guffey at alysa.guffey@indystar.com.