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[IEDC] Skilled Nursing Developer Growing Central Indiana Headquarters
Start Date: 4/8/2013 All Day
End Date: 4/8/2013
Entry Description

CARMEL, Ind. (April 8, 2013) – Mainstreet Property Group, LLC, a developer of senior housing and care properties, announced plans today to expand its headquarters here, creating up to 25 new jobs by 2015.

The homegrown-Hoosier company will invest $800,000 to lease and equip 7,120 square feet of office space on the second floor of Clay Terrace in Carmel. Mainstreet Property’s new office will include casual meeting space, a children’s room and an onsite locker room to promote employee wellness efforts. The company plans to relocate to the new location by the end of April.

“Up and coming companies continue to discover that Indiana is a state that works for high-growth business,” said Eric Doden, president of the Indiana Economic Development Corporation. “We appreciate Mainstreet Property’s continued investment in this region and look forward to the new opportunities it will bring Indiana workers.”
 
Mainstreet Property, which currently employs 20 Hoosiers, will begin hiring additional real estate development and management positions later this year.

“We’ve had a great run in Cicero, and we will continue to own our former headquarters building in the downtown area,” said ZekeTurner, chairman and chief executive officer of Mainstreet Property. “But our growth and the June 2012 launch of our public REIT necessitated us to look at a move. Carmel and Clay Terrace offer a desirable, functional space with a closer proximity to our employees and our partners, and the state of Indiana provides us with a low tax, strong business environment to continue our growth locally, regionally and nationwide.”

Founded in Cicero in 2002, Mainstreet Property specializes in the acquisition and development of real estate properties focusing on both the long-term and short-term care for the senior population. The company’s Next Generation™ facilities include concierge-based health care that feature multiple social destinations, restaurant-style dining, private rooms and baths, as well as wellness and therapy rooms. Recently, Inc. magazine named Mainstreet Property to its annual list of 500/5000 Fastest Growing Private Companies.

The Indiana Economic Development Corporation offered Mainstreet Property Group, LLC up to $325,000 in conditional tax credits and up to $20,000 in training grants based on the company’s current plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The city of Carmel supports the project.

“We are pleased that Mainstreet Property has chosen to relocate their offices in Carmel at Clay Terrace,” said Carmel Mayor Jim Brainard. “This is exactly the type of opportunity that provides a good match for our professional work force. The city realizes a long term gain through economic development and job growth when a company decides to invest in our city.”

Mainstreet Property is the latest company to grow in Carmel. GEICO, Baldwin & Lyons, NextGear Capital, Polleo Systems and Allegient have all made plans to expand or locate operations in Carmel this year. The companies cumulatively project to create more than 1,570 jobs and invest more than $63.9 million in their Carmel operations.

About Mainstreet Property
Indiana-based Mainstreet Property Group is the nation's largest skilled nursing developer, known for acquiring and developing desirable, concierge-based health care properties with a hotel-like atmosphere for a variety of short-term and long-term needs. The company’s innovative and industry-leading Next Generation™ design meets the demands of the Baby Boomer, including communities with multiple social destinations, restaurant-style dining, spacious private rooms and baths, and therapy/wellness. Mainstreet was named to the Inc. 500/5000 list of fastest-growing companies in 2010, 2011 and 2012. For additional information, visit www.mainstreetcap.net.

About IEDC
Created in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Mike Pence. Victor Smith serves as the Indiana Secretary of Commerce and Eric Doden is the president of the IEDC.

The IEDC oversees programs enacted by the General Assembly including tax credits, workforce training grants and public infrastructure assistance. All tax credits are performance-based. Therefore, companies must first invest in Indiana through job creation or capital investment before incentives are paid. A company who does not meet its full projections only receives a percentage of the incentives proportional to its actual investment. For more information about IEDC, visit www.iedc.in.gov.

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Media Contacts:
Kate Snedeker (Mainstreet) – 317.420.0205 or ksnedeker@mainstreetcap.net 
Katelyn Hancock (IEDC) – 317.234.2294 or kahancock@iedc.in.gov

Location Information:
Hamilton County
IN
Hamilton
Contact Information:
Name: Katelyn Hancock
Phone: 317-234-2294
Email: kahancock@iedc.in.gov
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Entry Type:
Press Release
Entry Category:
  • Announcements
  • IN.gov Category:
  • About Indiana
  • Business & Employment
  • Agency Name
    Economic Development Corporation, Indiana

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