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.

Chairman and CEO, Mainstreet Property Group
Age: 34

Paul “Zeke” Turner says his work is all about transforming lives. As CEO of Cicero-based Mainstreet Property Group, that means building health care facilities that provide quality, comfortable places for seniors and jobs for the community. Outside of work, that means working with his wife to help people build strong marriages.

Turner began pursuing the goals at Taylor University. After graduating in 2000, he went to work at Salomon Smith Barney in New York, always expecting to come back to Indiana to start an investment company. In 2002, he did just that, creating Mainstreet, which invests in health care real estate properties “that deliver care in an environment that’s completely unlike anything that might be out there,” he said.

Mainstreet now works throughout Indiana and plans to expand to five or six other states in the next 18 to 24 months. Turner’s proudest achievement is the ongoing effort to revitalize an area of his hometown, Marion, by building not only a new senior care facility (at what’s known as the Flinn site) but working with the city to develop a new park and upgraded roads.

“Our 7-acre project became a 250-acre impact project,” he said. “I have immense personal pride in the project, because it’s not just about transforming health care but really improving the entire area surrounding it and creating 150 jobs in the community.”

When he’s not building Mainstreet, Turner and his wife of seven years, Milissa, work in marriage ministry—they have five children and are Indiana Family Institute board members—and ultimately would like to improve adoption and foster-care options for Indiana children.

“We think one of the greatest things you can give somebody is hope,” he said. “We know not all relationships move along the smoothest road. But encouraging people to work and commitment and have hope for a better future is a great gift to give somebody.”

Paul Ezekiel Turner
Where were you, and what were you doing in 1991?
Finishing a year away from school. I was small, so my parents kept me out of school to allow my body to mature before I entered eighth grade. That year was transformational. I was able to travel, including trips to China, the Philippines, Taiwan and Hong Kong, and pursue studies on topics of interest to me like investing, computers and more. By the end of this year, I had also grown almost a foot taller.

When you graduated from high school, what did you think you wanted to be as an adult?
Exactly what I am doing now—investing in and growing great businesses. From an early age, I knew I was going to be an investor and would ultimately become a funding source for Christian and other social ministries in the U.S. and around the world.

Was there an event in the last 20 years that had a great impact on your aspirations and/or career path?
Getting married and having my first child a year later completely changed my focus on the important things in life. As a single person, it was quite easy to become enamored with material things. In addition, my faith in God had always been important, but I failed to make my relationship with Jesus Christ the most important thing in my life. Once I had a family, which includes a heavy responsibility to be the spiritual leader of that family, my order of priorities completely shifted.

Where/what do you want to be 20 years from now?
To have options. I doubt I will be working in the traditional sense, as I do not even really follow that kind of schedule now. I will likely have moved on from my current role and will be pursuing investments in companies both here in the U.S. and around the world, particularly those that create jobs, and providing support to effective social organizations that seek to transform the lives of those less fortunate.

“Aging adults are currently rejecting senior living options based on a variety of factors, including their economic situations, healthcare needs, and lifestyle choices” said Zeke Turner, Chairman and CEO of Mainstreet. “This Baby Boomer survey seeks to identify those factors which are crucial to understanding the decision making process of the next generation of users in order to provide the best possible options in senior healthcare and living.”

According to the Administration on Aging, the population 65 and over will increase from 35 million in 2000 to 55 million in 2020. To meet the growing demands of the retiring Baby Boomer generation, there will be a $300 billion investment in senior care.

“We know there is a need for better options in senior care, and this research helps us identify what those needs are and how we can meet those needs,” Turner said.

The Baby Boomer survey polled seniors over the age of 55 on a variety of issues including retirement plans, financial situation, senior living facilities, lifestyle preferences, and health concerns. Mainstreet, which plans a series of announcements regarding the survey’s findings, develops next-generation senior living communities for a wide variety of needs, including skilled nursing and short term rehabilitation, independent living, and Alzheimer memory care.

One of the numerous findings within the survey highlighted the financial struggles the Baby Boomers are currently experiencing, who now plan to work longer than they anticipated, citing factors associated with the ongoing economic downturn.

The survey found that the average Baby Boomer plans to retire at age 67.8 as compared to an average age 10 years ago of 66.1.

“Many seniors are uneasy about their financial situations and their ability to fully retire,” said Turner.  “To help counteract the impact of the economy, seniors are choosing to work longer, continue working part-time, or downsizing.”

Boomers 55 to 64 surveyed, who have postponed retirement, listed a variety of causes related to the recession, including:

• Poor economy (26.6 percent);
• Stock market losses (21.3);
• Investments weaker (18.6); and
• Loss of job (10.6).

“I am not aware of anyone else who has done this kind of in-depth research into the retirement plans of the Baby Boom generation,” said Turner. “These results will be invaluable as we plan to meet Boomers’ health-care needs into the future.”

The survey was conducted amongst a random sample of the United States and within each state of people 55 and older across the country. The margin of error was +/-3.8 percent.

Mainstreet, one of the fastest-growing health-care real estate investment companies in the country, had $100 million in new development in 2011. Mainstreet offers guests need-based health care in a hotel-like atmosphere. Mainstreet’s design includes multiple social destinations, business center, restaurant dining, private rooms and baths, and therapy/wellness.

Based in Cicero, Ind., Mainstreet, is expanding into other states throughout the U.S. For 2012, Mainstreet has identified 14 other locations and has begun the land acquisition process for many of those projects. For additional information, visit http://www.mainstreetcap.net.

The 100-bed development on Bodnar Boulevard in the Elm Road Medical Campus will feature skilled nursing, short-term rehabilitation, assisted living and Alzheimer’s/memory care.

Leaders of both companies said they hope the property will be the first of many they develop across the Midwest. They said they are beginning a strategic partnership, hoping to accomplish more together than they could individually, because their philosophies are similar and their missions are complementary. Mainstreet and Sprenger are working on plans for other developments in Ohio and Indiana.

“We work with only the best operators who treat seniors with dignity and give them the best possible care,” said Zeke Turner, Chairman and CEO of Mainstreet. “Sprenger has established a track record for enhancing lives and improving communities.”

Sprenger Health Care Systems is a family-owned and family-run business based in Lorain, Ohio. Grace Sprenger founded the company in 1959 when she opened a 26-bed nursing home in Amherst, Ohio. A passion for caring for the elderly and a tradition of commitment to quality healthcare have helped Sprenger evolve into Northeast Ohio’s premiere network of rehabilitation, nursing, assisted living and independent living centers.

Sprenger Health Care Systems has established a reputation for civic concern and involvement in each of the communities it serves. The Sprenger philosophy is to encourage employees to get involved and volunteer in local organizations such as the Chamber of Commerce, Rotary Club and city schools. And Sprenger is committed to supporting organizations that raise money for diseases that affect the local community.

“The Sprenger organization is looking forward to becoming part of the Mishawaka community,” said Scott Sprenger, President of Sprenger Health Care Systems. “Our partnership with Mainstreet is the catalyst to bringing a higher standard in health care and rehabilitation to Indiana and the residents we serve.”

Providing healthcare for a variety of short-term and long-term needs, Mainstreet offers guests concierge-based health care in a hotel-like atmosphere. Mainstreet’s next-generation design includes 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 both 2010 and 2011. It has been listed as the third-fastest growing private company in the area by the Indianapolis Business Journal and one of 41 “Companies to Watch” in the state by the Indiana Economic Development Corporation, Purdue University and the Edward Lowe Foundation. For 2012, Mainstreet has identified 10 new locations and has begun the land acquisition process in Illinois, Ohio and other Midwestern states.

For more information about Mainstreet, visit http://www.mainstreetcap.net/. For more information about Sprenger, visit http://www.sprengerretirement.com/

“Mainstreet has identified a real need in the market for innovative healthcare campuses that provide quality care and concierge service in a building that is both aesthetically pleasing and that has a real community feel,” said Zeke Turner, Chairman and CEO of Mainstreet. “Healthcare needs are changing and our business model is built to meet the needs of this generation.”

Mainstreet has closed, or is closing on, a total of four properties in the fourth quarter of 2011, including properties in Springfield, Ill., and Wabash, Mishawaka and Westfield, Ind. Other 2011 closings included properties in Valparaiso and Marion, Ind. Campuses will include a combination of skilled-nursing, assisted-living care and Alzheimer’s care. Each of these developments will create over 300 construction jobs and over 150 permanent positions. The job creation associated with these six projects is over 2,000 jobs.

Providing healthcare for a variety of short-term and long-term needs, Mainstreet offers guests need-based healthcare in an atmosphere that feels more like a hotel than a hospital. Mainstreet’s innovative designs include multiple social destinations, business centers, Wi-Fi access, restaurant dining, private rooms, private baths and therapy/wellness centers.

To provide innovative solutions that empower people of all ages to lead meaningful lives in a dignified setting with exceptional care, Mainstreet is currently expanding into states across the Midwest with its next-generation healthcare model.

For 2012, Mainstreet has already identified 10 additional development projects in locations across Indiana, Illinois, Ohio and other Midwestern states.

“One distinctive characteristic of our properties is that they bring a sense of dignity and pride to guests and residents. We hope to fundamentally change the healthcare industry and implement a higher standard of care and community,” said Ed Grogg, President of Mainstreet.

With the tagline, “Investing more than capital,” Mainstreet operates within a social filter that provides an important dimension to its decision-making process. The goal is to invest in properties that serve to enhance lives and improve communities. In this, Mainstreet acts not only as an investor and developer, but also as a true partner in the industry that is prepared to advance the common good.

Mainstreet was named to the Inc. 500/5000 list in both 2010 and 2011. It was listed as the third-fastest growing private company in the area by the Indianapolis Business Journal and one of 41 “Companies to Watch” in the state by the Indiana Economic Development Corporation, Purdue University and the Edward Lowe Foundation. For more information visit: http://www.mainstreetcap.net.

“The Bridge Care Suites” located at 3089 Old Jacksonville Road, in Springfield will meet a void in the market for short-term, post-operative and sub-acute care will bring approximately 375 construction jobs and over 150 permanent jobs to the Springfield community. When completed in January 2013, the $12.9 million single-story facility will cover 45,000 square feet, feature 75 patient beds, and create job opportunities for a range of different health professionals and support staff. The project’s general contractor is Walsh Construction.

“Healthcare needs are changing and our business model is adapting to meet the needs of this generation, offering a healthcare campus for a variety of both short-term and long-term needs,” said Zeke Turner, Chairman and CEO of Mainstreet.

Mainstreet’s next-generation design includes multiple social destinations, business center (wi-fi), restaurant dining, private rooms, private baths and therapy/wellness.

“One of our most important focuses in our property design is to create a community/neighborhood feel for the guest,” said Ed Grogg, President of Mainstreet. “Our campuses will provide great healthcare but will also have many social destinations and an appealing design in which the guests can take pride.”

Seeking to provide innovative solutions that empower people of all ages to lead meaningful lives in a dignified setting with exceptional care, Mainstreet is currently expanding into states across the Midwest with its next-generation healthcare model.

“There is a real void in the market right now for choice and innovation in the senior care field,” said Zeke Turner, Chairman and CEO of Mainstreet. “We are changing that by giving seniors the amenities and concierge service that they demand.”

In 2010 and 2011, Mainstreet was named by the Indianapolis Business Journal as one of the fastest-growing private companies in the area. In 2010, it was named one of 41 “Companies to Watch” in the state by the Indiana Economic Development Corporation, Purdue University and the Edward Lowe Foundation.

Mainstreet earned the position of 2,162 on the 2011 Inc. 5000 list. Previous Inc. 5000 honorees have included: Jamba Juice, Timberland, Clif Bar, Oracle, Zipcar, Microsoft and Under Armour.

Currently expanding across the Midwest, Mainstreet has 14 properties in Indiana and six additional projects outside the state in various stages of development. The company will soon break ground on campuses in Illinois and Ohio, and is considering expansions into Texas, Florida and several other states..

Mainstreet properties are unique in that nearly all feature private rooms and baths and pleasing architectural design – which lends itself to greater curb appeal, and a heavy focus on social amenities, including a “Main Street” concept with beauty salons, game rooms, fitness facilities, multiple dining options, ice cream parlors, pubs and other features.

“Retiring Baby Boomers have a different set of expectations than the generation before them. We are providing the next generation of healthcare that will have the look and feel of a resort, rather than a hospital,” said Turner.

The campuses also offer short-term rehabilitation and therapy services for individuals of all ages in need of them. New buildings often coordinate with community revitalization projects or nearby health campuses. On average, each new development creates up to 375 construction jobs and over 150 permanent jobs. For more information, visit http://www.mainstreetcap.net.

Note to Editors: For more information about Mainstreet or to arrange an interview with Zeke Turner, please contact Julie Shutley at 972.267.1111 or julie@alarryross.com.