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Mainstreet plans $9.2M nursing home on northwest side

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Carmel-based Mainstreet Property Group plans to build a new 100-bed “health care resort” on 7 acres at 5404 Georgetown Road in Indianapolis, according to a tax-abatement request filed with the city.

The $9.25-million, 65,000-square-foot nursing-home and assisted-living facility would feature an Internet cafe, movie theaters and restaurant-style dining with an on-site chef, Mainstreet spokeswoman Kate Snedeker said. About 90 percent of the beds would be in private rooms. Seventy of the beds would be for skilled nursing, and 30 would be for assisted-living residents.

Mainstreet seeks a three-year property-tax abatement that would save the company about $468,000, according to a preliminary resolution that will go before the Metropolitan Development Commission on June 5. The site is not in a designated economic revitalization area.

The city’s Department of Metropolitan Development staff estimates the construction will increase the property value by nearly $6.5 million, resulting in about $156,000 a year in new property-tax revenue after the abatement expires. The property is now being taxed at $283 per year.

Mainstreet would lease the property to a third-party operator, which hasn’t yet been identified. Mainstreet estimates the facility operator would employ 80 people, earning an average $17.30 per hour.

Mainstreet this month was approved to receive state economic development incentives for moving its headquarters from Cicero to Carmel. The fast-growing company founded by Zeke Turner, the son of Indiana lawmaker Eric Turner, has built multiple senior-living facilities in Indiana and Illinois.

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  • This would be fantastic for the area.
    This area has been up and down hill for years. Some of the ups have been the Best Buy, Staples and WalMart that were added. This would be a tremendous boost to this area economically. Hopefully a tenant at the former Rite-Aid store will quickly take shop. This would also be great for the new walgreens on the corner. This area needs more good things happening!

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  1. The east side does have potential...and I have always thought Washington Scare should become an outlet mall. Anyone remember how popular Eastgate was? Well, Indy has no outlet malls, we have to go to Edinburgh for the deep discounts and I don't understand why. Jim is right. We need a few good eastsiders interested in actually making some noise and trying to change the commerce, culture and stereotypes of the East side. Irvington is very progressive and making great strides, why can't the far east side ride on their coat tails to make some changes?

  2. Boston.com has an article from 2010 where they talk about how Interactions moved to Massachusetts in the year prior. http://www.boston.com/business/technology/innoeco/2010/07/interactions_banks_63_million.html The article includes a link back to that Inside Indiana Business press release I linked to earlier, snarkily noting, "Guess this 2006 plan to create 200-plus new jobs in Indiana didn't exactly work out."

  3. I live on the east side and I have read all your comments. a local paper just did an article on Washington square mall with just as many comments and concerns. I am not sure if they are still around, but there was an east side coalition with good intentions to do good things on the east side. And there is a facebook post that called my eastside indy with many old members of the eastside who voice concerns about the east side of the city. We need to come together and not just complain and moan, but come up with actual concrete solutions, because what Dal said is very very true- the eastside could be a goldmine in the right hands. But if anyone is going damn, and change things, it is us eastside residents

  4. Please go back re-read your economics text book and the fine print on the February 2014 CBO report. A minimum wage increase has never resulted in a net job loss...

  5. The GOP at the Statehouse is more interested in PR to keep their majority, than using it to get anything good actually done. The State continues its downward spiral.

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