Executives from the real-estate company Mainstreet hosted an investors meeting in Bloomington today in hopes of getting another $1 million to build a new rehabilitation facility for the elderly.
The $13 million center being built on State Road 48 west of State Road 37 aims to provide people with a transitional home while they're recovering from hospital stays.
It promises to provide a more luxurious experience than a nursing home. It will offer 100-beds, mostly in private rooms as well as on-site restaurants.
"We think there is a massive opportunity in Bloomington, in Indiana more broadly and across the country for these short stay transitional care facilities," says Mainstreet Chief Operating Officer Scott White.
Lauren Cowan, a member of the Bloomington Commission on Aging, says many aging baby boomers are not interested in going into the kinds of senior housing that are currently available.
"I think there needs to be a focus, as Mainstreet indicated, on rehabilitation, independence and interaction," she says.
The Mainstreet project is being funded by a combination of sources, including direct investments from individuals.
The company hopes to break ground on the center in the next month.