As Baby Boomers Retire, New Generation of Senior Housing is Born: Investment Firm Makes ‘Dignity’ Highest Priority in Building Design

CICERO, Ind., June 1, 2011 /PRNewswire/ — Research by the AARP has shown that
90 percent of the Baby Boomers do not want any of the senior housing options
currently available–they would rather live at home. Mainstreet is working to
transform the status quo for senior housing, designing projects around social
interaction, independence, resort-style living and quality care.

“The generation currently living in senior housing grew up during the Great
Depression and is comfortable living a simple and moderate lifestyle,” said Zeke
Turner, Chairman and CEO of Mainstreet. “The generation after them is much
different, and senior housing is going to have to innovate to meet their higher
standards of 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 need to be between a
$200 and $300 billion investment in senior care.

“Downsizing shouldn’t mean downgrading,” Turner said. “We want our properties to
have the look and feel of a cruise ship or vacation property, not a hospital.”

Mainstreet facilities are unique in that nearly all feature private rooms and
baths, 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 and pubs. New buildings often coordinate with community
revitalization projects and on average generate up to 375 construction jobs and
over 150 permanent positions.

Mainstreet was recently listed by the Indianapolis Business Journal as the
third-fastest growing private company in Indianapolis. In 2010, it was included
in the Inc. 500 list of the fastest-growing private companies in America and
named one of 41 “Companies to Watch” in the state by the Indiana Economic
Development Corporation, Purdue University and the Edward Lowe Foundation.

Mainstreet, founded in 2002 and located in Cicero, Ind., owns, either solely or
in concert with its subsidiaries, 11 properties, including eight senior housing
and care properties. Additionally, the company has another eight health care
campuses in various stages of construction and development in the Midwest. For
additional information, visit http://www.mainstreetcap.net.

FOR INFORMATION, CONTACT:
Julie Shutley 972.267.1111
julie@alarryross.com

SOURCE Mainstreet