Mainstreet Property Group, LLC, a developer of senior housing and care properties, plans to expand its Carmel, Indiana, headquarters, creating up to 25 new jobs by 2015. The homegrown-Hoosier company, which specializes in the acquisition and development of real estate properties focusing on both the long-term and short-term care for the senior population, will invest $800,000 to lease and equip 7,120 square feet of office space on the second floor of Clay Terrace in Carmel.
The firm’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. The company currently employs 20 Hoosiers, and 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.”
“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.”
As an incentive 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 Mayor Jim Brainard. “This is exactly the type of opportunity that provides a good match for our professional workforce. The city realizes a long term gain through economic development and job growth when a company decides to invest in our city.”