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City approves $15.7M senior-living center on east side

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A Cicero-based developer has won city approval to build a $15.7 million senior health care center at 16th Street and Arlington Avenue on Indianapolis’ east side.

The city’s Metropolitan Development Commission gave its blessing Wednesday after accepting in February an offer from Mainstreet Property Group LLC to purchase the property for $912,500.

The city had owned the nine-acre parcel since September 2004, when it bought the property formerly used by Raytheon Technical Services Co. LLC for $1 from the federal government.

Nearly half of the project’s cost could be financed by $7.4 million in city-issued bonds.

Mainstreet’s plans for the center call for 70 skilled-nursing and 30 assisted-living beds.
   
The facility is expected to create up to 150 jobs, Mainstreet officials said.

The project would be Mainstreet’s first newly constructed facility in Marion County. In 2006, it purchased out of bankruptcy the Highland Health and Living Center in Indianapolis at 2926 N. Capital Ave.

The company owns or co-owns 13 senior health care centers in Indiana, Illinois and Ohio, and has six more under development. It also plans to break ground on up to 12 centers by the end of the year, including a $13.3 million facility in Westfield.
 

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  • Ballard's Banana Republic
    Cronie Capitalism at work again... The taxpayers who cannot receive basic City Services without a tax increase ( all the while the Mayor cooks the books and HIDES TAX REVENUE IN TIFS) will once again finance private business....

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  1. By Mr. Lee's own admission, he basically ran pro-bono ads on the billboard. Paying advertisers didn't want ads on a controversial, ugly billboard that turned off customers. At least one of Mr. Lee's free advertisers dropped out early because they found that Mr. Lee's advertising was having negative impact. So Mr. Lee is disingenous to say the city now owes him for lost revenue. Mr. Lee quickly realized his monstrosity had a dim future and is trying to get the city to bail him out. And that's why the billboard came down so quickly.

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  3. Yes it does have an ethics commission which enforce the law which prohibits 12 specific items. google it

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