INDIANA—LCS, a senior lifestyle services provider, has entered into a joint venture agreement with Mainstreet Property Group LLC, of Cicero, Ind. to own and operate the first of several skilled nursing, short-term rehabilitation and assisted living communities.
Mainstreet, which will act as the real estate owner/developer, has 13 similar communities currently in operation.
The first joint venture community, Wabash Health and Wellness Suites in Wabash, Ind. is currently underand is projected to open in January 2013 on 30+ acres. The 67,000-sq.-ft. project, which will create approximately 140 jobs, will have 70 skilled nursing and short-term rehabilitation suites with 30 assisted living apartments.
Withcosts of $15 million, the City of Wabash projects the Wabash Health and Wellness Suites will create an economic impact of $200 million in Wabash County over the next 10 years.
Three other sites in Indiana are also part of the initiative: Westfield, Avon and Crawfordsville. Indianapolis-based Shiel Sexton is the general contractor in Wabash; Meyer Najem Construction of Fishers, Indiana is the general contractor for Westfield, Avon and Crawfordsville.
The communities will be managed by Life Care Services, an LCS Company.