Senior lifestyle services provider LCS recently entered into a joint venture agreement with Mainstreet Property Group, LLC, based in Cicero, Ind. to own and operate the first of several skilled nursing, short-term rehabilitation, and assisted living communities.
Mainstreet will act as the real estate owner and developer, and already has 13 similar communities currently in operation. The first joint venture community, Wabash Health and Wellness Suites in Wabash, Ind., is currently under development with a projected opening date of January 2013.
The 67,000-square-foot project sits on more than 30 acres of land and will feature 70 skilled nursing and short-term rehabilitation suites with 30 assisted living apartments. Construction is expected to cost about $15 million. The community is also partnering with Live Well in Wabash for a satellite senior center location in Wabash County.
Three other Indiana sites will be part of the joint venture: Westfield, Avon, and Crawfordsville. The communities will be managed by Life Care Services, an LCS Company out of its Greenwood, Indiana office.
“LCS provides long-term care and rehabilitation services in the majority of communities we manage,” said Rick Exline, Executive Vice President/Director of Operations Management of LCS, in a statement. “This prototype allows us to provide these services in smaller cities that have not had access to assisted living and rehabilitation in the past.”
Shiel Sexton, based in Indianapolis, Ind., is the general contractor in Wabash, while Meyer Najem Construction of Fishers, Ind. is the general contract for the Westfield, Avon, and Crawfordsville sites.
Written by Alyssa Gerace