MAINSTREET PURCHASES PROPERTY AT ALGODON CENTER FOR TRANSITIONAL CARE AND ASSISTED LIVING FACILITY

MainstreetÒ, the nation’s largest developer of transitional care properties, has purchased 3.65 acres at Algodon Medical Office Park for $1,726,304 in West Phoenix for creation of a transitional care and assisted living center.

Mainstreet Algodon

Mainstreet began construction in mid-February on a Next GenerationÒ property at the site, which is located on the southwest corner of 91st and Pinchot avenues, just north of Thomas.  The transitional care center will provide short-stay rehabilitation and therapy, as well as assisted living in a service-rich environment.  The company plans to complete the development in February 2017.

 

The company will develop a 67,697-square-foot building that will contain 94 beds.  The property will boast hospitality-oriented care with amenities such as a large therapy gym, an outdoor rehabilitation courtyard, a game room, a spa, a movie theatre, an outdoor terrace on the second floor and dining with an on-site chef.

 

“From day one, the community of Phoenix welcomed Mainstreet with open arms,” said Chris Alexander, Mainstreet’s senior development director.  “We are excited to be developing our latest transitional care center in this location, and look forward to being a part of this community for many years to come.”

 

In addition, Kids Inc. has purchased a pad at Algodon Retail Center for development of a childcare facility.  The childcare provider purchased a 55,127-square-foot site for $700,000 at the northwest corner of 91st Avenue and Thomas Road, at the adjacent retail center to the new Mainstreet site.  The company will start construction next month and is hoping to open its 13,000-square-foot center by the end of summer.

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