IBJNews

Mainstreet plans $9.2M nursing home on northwest side

Back to TopCommentsE-mailPrintBookmark and Share

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.

ADVERTISEMENT

  • 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!

Post a comment to this story

COMMENTS POLICY
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
ADVERTISEMENT

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 keep wondering why I keep hearing about this problem of corporations leaving America, and I never hear a reasonable proposal to lower corporate tax rates and raise personal rates on income from capital gains and dividends, especially for high earners. It is just too simple of a solution for Congress to embrace?

  2. Are you financially down and you need money to settle your dept,or you need money to start up a business or to invest on a huge business,we also offer Loans to individuals, Firms and cooperate bodies at low interest rate , loan terms determinant,Loan amount between the sum of $5,000.00 to $100,000,000.00. US Dollars And Euro. Loan for developing businesses a competitive edge/ business expansion. We Offer The Following Kinds Of Loans. Personal Loans (Secure and Unsecured) Business Loans (Secure and Unsecured) Consolidation Loan FIRST INFORMATIONS NEEDED ARE: BORROWER’S DATA’S INFORMATION,FILL AND RETURN FOR QUICK START UP PROCESS. Name:_________ Last Name:_________ Age:_________ Contact Address:_________ Country:_________ Amount Needed as Loan:_________ Loan Duration:_________ Phone Number__________ Monthly Income/Yearly Income:_________ Purpose for Loan:_________ Occupation:_________ How Soon is Loan Needed__________ Email via: albertbrownfirm@outlook.com

  3. is a disaster. SR37 already needs to be built to interstate standards between 465 and SR144. Southport Road is a mess each morning and evening.

  4. Bass Pro Shops would be good for the mall as well as a Giant Eagle Market District or a Jungle Jim's International Market Place grocery store like the one near Cincinnati Ohio.A Disney quest indoor theme park would be good.An Academy outdoor store would be good too.Indoor Circus shows and magic shows would be good as well. A casino with sports bar would be good.A Disney theater inside that shows movies and Broadway shows would work.Nashville Tennessee concert shops with indoor neon lights would be good.How about a theater that shows travel shows and theme parks. A train store would be good.How about a giant toy store with high tech video games.

  5. This development is in addition to Allpoints Midwest 5, Aitrtek, a recent FedEx and more in Plainfield. Greenwood and Brownsburg also have similar projects.

ADVERTISEMENT