Developer plans $15.7M senior-living center on east side

Back to TopCommentsE-mailPrintBookmark and Share

A Cicero-based developer plans 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 approved the project Wednesday after accepting Mainstreet Property Group LLC’s offer to purchase the property for $912,500.

The city has 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.

Mainstreet plans to begin construction in July and finish by June of 2013. The facility would include 100 beds for skilled care, short-term rehabilitation and assisted-living patients.

Nearly half of the project’s cost could be financed by $7.4 million in city-issued bonds, according to the project’s preliminary financing plan.

Deron Kintner, executive director of the Indianapolis Bond Bank, said the city is still considering the company’s request for funding but should have a decision soon.

“We’re intrigued by it,” he said of the project. “That area could really benefit from it, especially with the proximity to Community Hospital [East].”

The facility is expected to create up to 150 jobs, said Zeke Turner, Mainstreet’s CEO.

“We do like the physical location being somewhat close to an acute-care player,” he said. “We’re finding a lot of success coming into the urban environments where the options [for short-term care] are even fewer.”

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

Overall, 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, Turner said.

Turner was featured earlier this month in IBJ's annual "Forty Under 40" feature. In the video below, he discusses Mainstreet's plans for expanding its senior-housing offerings into more states.

Turner founded Mainstreet in 2002. The company has been ranked among the fastest-growing companies in the Indianapolis area by IBJ the past three years. It had revenue of $9.6 million in 2010, up from $6.3 million in 2008.



  • Thanks
    Thanks a lot.
  • Nice story, but . . . .
    -1 on the (really loud) auto-play video. It's like it's 1998 again.
  • Where???
    The last place in the world I would want to live as a senior citizen is at 16th and Arlington.
    • Smoke and Mirrors
      Beware of the promises this company makes. I would be very cautious if I were the Indiana Bond Bank...
    • Free Money
      Great, another project that the private sector cannot do by themselves without the taxpayers being the mule. Message to Bond Bank - STOP encouraging this!
    • Great News
      I'm excited for this to be happening. Hopefully it will move some business towards Community East, they keep moving more and more services to the north campus. This will be a great addition to the area.

      I agree I wish the apartments would get torn down but lately it seems someone has been doing some minor repairs and renting them out again.
    • Good!
      Good! I hope that this includes the run-down apartment building that faces 16th just east of Arlington.

    Post a comment to this story

    We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
    You are legally responsible for what you post and your anonymity is not guaranteed.
    Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
    No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
    We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.

    Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

    Sponsored by

    facebook - twitter on Facebook & Twitter

    Follow on TwitterFollow IBJ on Facebook:
    Follow on TwitterFollow IBJ's Tweets on these topics:
    Subscribe to IBJ
    1. I am so impressed that the smoking ban FAILED in Kokomo! I might just move to your Awesome city!

    2. way to much breweries being built in indianapolis. its going to be saturated market, if not already. when is enough, enough??

    3. This house is a reminder of Hamilton County history. Its position near the interstate is significant to remember what Hamilton County was before the SUPERBROKERs, Navients, commercial parks, sprawling vinyl villages, and acres of concrete retail showed up. What's truly Wasteful is not reusing a structure that could still be useful. History isn't confined to parks and books.

    4. To compare Connor Prairie or the Zoo to a random old house is a big ridiculous. If it were any where near the level of significance there wouldn't be a major funding gap. Put a big billboard on I-69 funded by the tourism board for people to come visit this old house, and I doubt there would be any takers, since other than age there is no significance whatsoever. Clearly the tax payers of Fishers don't have a significant interest in this project, so PLEASE DON'T USE OUR VALUABLE MONEY. Government money is finite and needs to be utilized for the most efficient and productive purposes. This is far from that.

    5. I only tried it 2x and didn't think much of it both times. With the new apts plus a couple other of new developments on Guilford, I am surprised it didn't get more business. Plus you have a couple of subdivisions across the street from it. I hope Upland can keep it going. Good beer and food plus a neat environment and outdoor seating.