Every household deserves access to basic needs including quality education, healthcare, food, and stable, affordable housing. For more than three decades, Pedcor has built affordable housing in areas of opportunity where a community’s essential workers can live, work, and play. The result — a higher quality of life for more independent living and the ability to save for tomorrow.
1 in 3 households in the US pay more than 30% of their income to housing
The U.S. is expecting to add 400,000 renters per year between 2018-2028
85% of renters and other potential homebuyers lacked the savings for a 3.5% down payment
Source: Harvard State of Nations Housing 2019
A place to proudly call home
Our construction and design teams have ensured that each property’s style and layout seamlessly complements a vibrant multifamily community.
We understand that the environments we create impact our residents’ sense of stability and overall outlook, and that’s why we put so much care and attention into the details of each apartment home.
A stepping-stone to homeownership
Why? Because it’s woven into the American Dream, and we believe it can and should be attainable. High-quality affordable housing offers each resident the ability to save for their future under a well-balanced budget. We offer a variety of resources and educational opportunities at our communities to give each person the tools they need to make smart financial decisions for their future.
Pedcor Investments, A Limited Liability Company
Pedcor Investments, formed in 1987, developed Indiana’s first affordable housing community. Today, it’s one of the nation’s largest developers of affordable multifamily housing with projects spanning coast to coast.
Executive Team
Development
Legal
Finance
Engineering
Development Support
Design & Aesthetics
RETAS
The Real Estate Tax and Support (RETAS) department provides annual reports to state and county assessors in addition to reviewing and appealing (if necessary) all real estate assessments on behalf of the Pedcor Companies to ensure each community pays its fair share of taxes. RETAS is also responsible for Pedcor and its affiliate’s portfolio, minute book maintenance and election of officers, HUD and corporate compliance, and HUD affidavits including inspection issues, critical and non-critical repairs, and EH&S findings, and serving as the HUD APPS coordinator. Licensing and annual renewals are handled by RETAS on behalf of Pedcor Companies Management Entities.
Gerald K. Pedigo
Chairman
Mr. Pedigo has been involved in residential and commercial real estate development since 1958. He attended Butler University and subsequently was employed in the business of single-family construction and sales.
In 1962, Mr. Pedigo began his own firm while constructing approximately 400 custom homes and expanded his business to include commercial and industrial activities. Beginning in 1966, Mr. Pedigo concentrated on the commercial side of the construction business, forming Gerald K. Pedigo Corporation to provide real estate development services; Pedigo Construction Company, Inc. to provide construction services; and Pedigo and Associates to provide management services. His involvement included all facets of the industry including construction, ownership, marketing/leasing and management. He completed over 100 commercial and office buildings from $100,000 to $8,000,000. He was also a partner in several partnerships that owned and developed commercial and residential properties in Indiana, Florida, and Tennessee.
In 1986, as the tax shelter incentives were being revised, Mr. Pedigo sold the majority of his holdings and concentrated on general construction. In 1987, he joined Bruce Cordingley in forming Pedcor Investments to pursue affordable housing development.
Mr. Pedigo is a Director of Fidelity Federal Bancorp (Evansville, Indiana) and United Fidelity Bank. He is Chairman of Pedcor Investments LLC, Pedcor Financial Bancorp and Pedcor Financial, LLC, the holding company for United Fidelity Bank. He is a member of the Murat Shrine in Indianapolis and various trade associations.
Bruce A. Cordingley
President & CEO
Mr. Cordingley has been involved in commercial and residential development and financing since 1971. He graduated in 1968 from Purdue University (BS-Industrial Management) with Distinction and Honors in Economics. In 1971 he graduated from the Harvard Law School with a Juris Doctor degree. He earned a MA in Economics from Indiana University in 2000, a MS in International Finance in 2004 from the University of Maryland and attended a graduate program in Mathematical Finance at Oxford University in 2000 to 2001.
After a two-year affiliation with Bingham Dana & Gould, Boston, Massachusetts, Mr. Cordingley joined Ice Miller Donadio & Ryan, Indianapolis, Indiana, in 1973 as an associate, becoming a partner in the firm’s Real Estate Section in 1980. His legal practice focused on representation of real estate developers in all aspects of the development process (zoning, construction and permanent financing, acquisition, sales, joint ventures, syndications and tax matters).
In 1973, Mr. Cordingley began investing in real estate for his own account through International Enterprises, Inc., which owns and manages apartment communities in Indiana. In 1986, he started the development of the Bridlebourne subdivision in Carmel, Indiana which subsequently became the highest priced residential development in the State of Indiana. In 1987, he joined with Jerry Pedigo in forming Pedcor Investments to develop affordable rental housing. In 1992, Mr. Cordingley formally withdrew from Ice Miller to devote full time his efforts to the development activities of Pedcor Investments.
In addition to President and CEO of Pedcor Investments, Mr. Cordingley is chairman of United Fidelity Bank of Evansville, Indiana. He is President and CEO of Pedcor Financial, LLC, and Pedcor Financial Bancorp, the senior holding companies for United Fidelity Bank. He is also chairman of Fidelity Federal Bancorp and its subsidiaries.
He was a director of Eastside Community Investments, Inc. from 1983 to 1996. Mr. Cordingley was a director of the Indianapolis Economic Development Corporation, a city development corporation, from 1985 to 1988. He was also Commissioner (1983-1986) and President (1984-1986) of the Indianapolis Historic Preservation Commission, a governmental body that regulates historic districts and promotes preservation and a board member of the Riley Area Revitalization Program, a community development corporation from 1982 to 1987.
He is a veteran ending his service from 1968-1976 as a Captain in the US Army.
He is married to Denise, a retired French teacher, and he and Denise have 3 children and 4 grandchildren.
Phillip J. Stoffregen
Executive Vice President & COO
Mr. Stoffregen has been involved in commercial and residential development and financing since 1984. In 1980 he earned a BS in Business Finance and in 1981 an MBA degree in Financial Economics, both from Indiana University, Bloomington, Indiana. In 1984 he graduated magna cum laude from the Indiana University School of Law in Bloomington and joined Ice Miller Donadio and Ryan, Indianapolis, Indiana, as an associate, becoming a partner active in both the Real Estate and Municipal Finance Sections of the firm in 1991. His legal practice focused on taxable/tax-exempt financing and development of single-family/multifamily housing. Mr. Stoffregen served in a bond counsel capacity to the Indiana Housing Finance Authority and other Indiana issuers for various housing related tax-exempt financing programs. He also represented for-profit and not-for-profit multifamily housing developers, lenders and investors, primarily in the area of low-income housing tax credit, financing and development issues.
In 1992, Mr. Stoffregen joined Pedcor Investments, LLC as a partner where he spends most of his time on apartment development, construction and financing activities. Pedcor and its affiliates have developed in excess of 30,000 apartments since 1986, most of which participate in the low-income housing tax credit program. He is currently Executive Vice President and COO of Pedcor Investments, LLC and Executive Vice President for most of the Pedcor upper-tier companies.
Mr. Stoffregen is a Director/Member of the Executive Committee/Executive Vice President of Fidelity Federal Bancorp which is the immediate holding company for United Fidelity Bank, Evansville, Indiana and he is also a Director/Executive Vice President of Pedcor Financial, LLC, which is the top-tier bank holding company for United Fidelity Bank, all of which are owned and controlled by Mr. Stoffregen and his partners in Pedcor.
In 2015, acting as Pedcor’s representative, Mr. Stoffregen joined the Board of Directors for the Affordable Housing Tax Credit Coalition (AHTCC), a national trade organization for affordable rental housing that seeks to preserve, expand and improve the Housing Credit and complementary programs through legislative outreach and education (member of Executive Committee 2021 to present). Mr. Stoffregen served with the Urban Land Institute (ULI), a nationally recognized organization in the fields of development, land use and urban planning, where he was a member of the Affordable/Workforce Housing Council (2012 to 2019). Mr. Stoffregen also served as a director of the Martin Luther King Community Development Corporation (1991 to 2000), and as a founding member of the board of directors for Coburn Place Safehaven, Inc., an Indianapolis not-for-profit operating transitional housing for victims of domestic violence (1996 to 2012), serving stints as Board Chairman for both groups.
Doug Boggs
Executive Vice President, CFO & Treasurer
Mr. Boggs graduated from Ball State University in 1992 (BS – Accounting). He started his career with Pedcor Investments, LLC as a Staff Accountant in 1993. In 1995, Mr. Boggs went to work for Simon Property Group, the largest REIT in North America at the time, where he worked for three years holding both Staff & Senior Accountant roles. In 1998, Mr. Boggs was re-hired by Pedcor Investments, LLC as an Assistant Controller and was later elevated to CFO in 2006 where he currently serves in the same role. Mr. Boggs has over 25 years of residential and commercial real estate accounting experience. In 2019, he was named the CFO of Pedcor Financial, LLC, the upper tier bank holding company for United Fidelity Bank, fsb (Evansville, IN) where he currently serves in the same role. Mr. Boggs oversees the Real Estate & Bank Holding Company accounting operations for Pedcor Companies, which includes approximately 40 accounting and finance staff members.
Thomas G. Crowe
Executive Vice President – Development & Finance
Mr. Crowe graduated from the University of Notre Dame in 1988 (BA – Accounting). He worked for NBD – First Chicago Corporation for approximately eight years as a commercial lender in several departments, leaving as a Second Vice President. His responsibilities during his tenure at the bank included lending to real estate developers, builders, commercial contractors and architects/engineers. Additionally, Mr. Crowe was responsible for underwriting of the bank’s investment in limited partnership interests for affordable housing. Mr. Crowe joined Pedcor Investments in 1996 and has since advanced to Executive Vice President. During his tenure with Pedcor, Mr. Crowe has been responsible for the development and financing of thousands of apartment units in multiple states. Mr. Crowe has served as a guest panelist for the Urban Land Institute, the Nebraska Investment Finance Authority, and the Illinois Housing Development Authority. His responsibilities include oversight of all aspects of apartment development transactions, including site selection, financial feasibility, plan production, debt and equity procurement, partnership agreement negotiation, legal documentation and investor relations.
Jared M. Houser
Executive Vice President – Development & Finance
Mr. Houser graduated from the University of Indianapolis in May 2002 and received his M.A. in Economics from Indiana University (Indianapolis) in 2007. Prior to joining Pedcor his experience includes roles as an analyst with a local community bank and serving the 2005 session as an intern financial analyst for the Indiana House Ways & Means Committee.
Mr. Houser joined Pedcor as an intern during graduate school in April 2005 and accepted a full time position as a financial analyst with Pedcor Financial and affiliates in August 2005. He subsequently accepted the position of Vice President of Finance with Pedcor Investments and its affiliates in October 2007.
Mr. Houser currently serves as the Executive Vice President of Development and Finance with a focus on developing multifamily housing on a national platform and overseeing the financial operations of Pedcor Investments and its development-related affiliates. His responsibilities include, but are not limited to, development deal structuring, strategic capital management, and operational management and oversight. In addition to his position with Pedcor Investments, he serves on the Interest Rate Risk Committee for United Fidelity Bank and the Credit Derivatives Committee with Pedcor Assurance Company.
Craig H. Lintner
Senior Vice President – Development
Mr. Lintner has been involved in residential development and engineering since 1994. He graduated from Iowa State University in 1994 with a BS in Civil Engineering and joined Landplan Engineering of Lawrence, KS working as a Project Engineer and Project Manager. In 1997, Mr. Lintner began working at Simmons Development Corporation as Vice President of Development developing residential and master- planned communities in the Kansas City metropolitan area. From 2001 to 2004, Mr. Lintner worked for Dura Builders, Inc. in Indianapolis, IN as Land Development Coordinator. In 2004, Dura Builders was acquired by KB Homes and Mr. Lintner’s responsibility expanded to Director and eventually Vice President of Land Acquisition and Planning. During this time, he directed all aspects of acquisition, purchase agreements, entitlement, due diligence, corporate land packages and development.
Mr. Lintner joined Pedcor in 2007 and has since advanced to Senior Vice President. During his tenure with Pedcor, Mr. Lintner has been responsible for the development of thousands of apartment units in multiple states. In 2013, Mr. Lintner was appointed Vice President of Village Capital Corporation where he assists in the development of their real estate.
Mr. Lintner is a registered Professional Engineer in Indiana and holds a State of Indiana Real Estate Salesperson License. He is a Board Member of the Hawthorne Community Center in Indianapolis.
Ryan M. Rodgers
Senior Vice President – Development
Mr. Rodgers graduated from Purdue University with a B.A. in Political Science and Psychology, and he graduated with a Juris Doctor degree from Indiana University Maurer School of Law. After graduation, Mr. Rodgers joined Barnes & Thornburg as an associate in the Creditors’ Rights and Real Estate practice groups. His legal practice focused on working with institutions in restructuring, bankruptcy, and acquisitions along with commercial and real estate transactions. Mr. Rodgers joined Pedcor in 2011 and has led multifamily development in multiple states, increasing Pedcor’s multifamily portfolio by thousands of units. From 2011 until 2014, he was a board member of the United Cerebral Palsy Association of Greater Indiana. Mr. Rodgers also holds an Indiana Real Estate Broker’s license.
Michael S. Byron
Vice President – Development
Michael S. Byron, Vice President – Development. Mr Byron graduated from Indiana University Bloomington in 1995 and earned a J.D. from the Valparaiso University School of Law in 1999. Mr. Byron joined Pedcor in October 2007, having previously worked as a staff attorney for the Indiana Department of Environmental Management, Office of Legal Counsel, Department of Enforcement, as well as an associate in the private practice of law for a local law firm focusing on litigation, real estate and environmental law. Mr. Byron served as the Director of Down Syndrome Indiana, Dads Appreciating Down Syndrome (DSI D.A.D.S.) for five-plus years. Mr. Byron remains actively involved in DSI D.A.D.S. and continues to assist and support fathers and families of individuals with Down syndrome on a regular basis. Mr. Byron also served as a member on the Indiana Advisory Board of Best Buddies Indiana for two years.
Brandon C. Delk
First Vice President – Development
Mr. Delk graduated from the Kelley School of Business at Indiana University – Bloomington in 2010 with a dual B.A. in Real Estate Finance and Business Management. Brandon joined Pedcor Investments in July, 2010 and earned his MBA from the Kelley School of Business at Indiana University – Indianapolis in 2016. In 2022, Brandon joined Neighborhood Charter Network’s board of directors to further the mission of providing quality education throughout Indianapolis communities.
Patrick J. Stoffregen
Vice President – Development
Mr. Stoffregen graduated with distinction from Indiana University – Bloomington in 2009, having earned a BA in East Asian Languages and Cultures (Japanese) and a Music Minor (Euphonium / Voice). After teaching English on the JET Program in Suzaka City, Nagano, Japan, he joined Pedcor in 2011. His development efforts are mostly focused in Colorado and Idaho. Patrick serves on the board of directors for PILLC and Pedcor’s various bank holding companies, and is one of the founding members of Pedcor’s JEDI Committee, which focuses on issues of Justice, Equity, Diversity, and Inclusion.
Jean Latsha
Vice President – Development
Ms. Latsha holds a Bachelor’s Degree in Philosophy from the University of Texas at Austin and has been involved in affordable housing development since 2005. She was employed by the Cesar Chavez Foundation, a non-profit corporation, for six years as a project manager and new business manager. There she was responsible for the production of affordable housing development in Texas, from site selection through financing, construction, and lease-up, utilizing several different funding sources including LIHTC, HOME, USDA Section 514/516 funds, Neighborhood Stabilization Program, and HUD Section 202 funds. She joined the Texas Department of Housing and Community Affairs in February, 2012 as the Competitive (9%) HTC Administrator, and was promoted to Director of Multifamily Finance. In that capacity she was responsible for the application process and review, allocation, award and closing on all multifamily funding sources administered by the agency, including multifamily revenue bonds, low income housing tax credits, and direct loan (including HOME) funds.
Ms. Latsha joined Pedcor in 2015 and has facilitated an increased presence in Texas where she offices. She serves on the board of both the Texas Affiliation of Affordable Housing Providers (TAAHP) and Community Housing Resource Partners.
Craig Maraschky
Vice President – Development
Mr. Maraschky has a B.A. from Cleveland State University in Urban Studies and a Master of Urban and Regional Planning degree from the University of Colorado. He has worked in the affordable housing and municipal planning field for over 30 years. From 2008 to 2024 he was the Executive Director of the Aurora Housing Authority in Colorado. Mr. Maraschky has served as a Board Member of Housing Colorado and was also President of the Colorado Chapter of the National Association of Housing and Redevelopment Officials. He also is a U.S. Army Veteran.
Mr. Maraschky joined Pedcor in 2024 and his duties include development in Colorado and the southwest region of the United States.
Turner Lesnick
Assistant Vice President – Development
Mr. Lesnick graduated from Marian University – Indianapolis with a B.S. in Finance with concentrations in business analytics and communications. Turner joined Pedcor in August of 2019 after previously working with another leading affordable housing developer. His development efforts are mostly focused throughout the Midwest.
Madeline Forte
Land Acquisition Analyst
Jeremy R. Buchanan
Senior Vice President & Chief Legal Officer
Mr. Buchanan graduated from Indiana University – Bloomington in 2004 and earned his Doctor of Jurisprudence from Indiana University School of Law – Indianapolis in 2008. Mr. Buchanan joined Pedcor Companies in 2004 as a member of Pedcor Bancorp. In that role, Mr. Buchanan assisted with multiple development projects involving the City of Carmel including the Carmel City Center, Indiana Design Center and Old Town Shops I & II. In that role he coordinated due diligence review for land acquisitions including title and survey matters. In addition, he has experience with retail lease negotiations, including landlord/tenant issues.
Mr. Buchanan joined Pedcor Investments as Vice President – Legal Counsel in July, 2014. Since joining the Development Team, his responsibilities again include in-depth due diligence review for land acquisitions; review and negotiation of complex finance agreements for the construction, development and refinance of low-income multi-family housing projects which include extensive experience with HUD 221(d)(4) & 223(f) programs as well as tax-exempt bond financings; and consultation with developers focusing within multiple states on project-based issues involving partnering with local housing authorities, structuring developments in order to utilize property tax exemption eligibility and securing necessary easements to satisfy development requirements relating to utilities and/or access rights.
Tim D. McKay
Vice President & Senior Legal Counsel – Development
Mr. McKay graduated from Xavier University with a B.A. in History and Theology in 2003 and graduated summa cum laude with a Juris Doctor degree from the Indiana University McKinney School of Law in 2010. Mr. McKay worked as an associate at firms focusing on defense litigation and creditor’s rights until 2017, when he joined Wooden & McLaughlin LLP. At Wooden & McLaughlin, later to become Dinsmore & Shohl LLP, Mr. McKay represented lenders in multifamily housing commercial real estate finance transactions.
Mr. McKay has closed over 350 multifamily transactions, including conventional land loans, acquisition loans, construction loans and equity bridge loans. Mr. McKay was promoted to partnership at Dinsmore & Shohl LLP in 2021 and joined Pedcor in 2023
Ryan Scheele
Legal Counsel
Mr. Scheele graduated from Indiana University – Bloomington in 2016 with a B.A. in Political Science and earned his Juris Doctor degree from Indiana University Robert H. McKinney School of Law in 2019. Ryan joined Pedcor Investments in 2020.
Tracey L. Da Silva
Vice President & Executive Legal Assistant
Ms. Da Silva graduated Summa Cum Laude from Indiana Wesleyan University in 2014 with a Bachelor of Science in Business Administration. She previously attended Indiana University-Purdue University at Indianapolis and International Business College. She joined Pedcor Investments in May, 1993 as an Administrative Assistant, was later promoted to Development Assistant and then to Vice President of Development. In 2002, Ms. Da Silva started her own real estate business and became a real estate agent for RE/MAX Preferred and the Sycamore Group. She returned to Pedcor in 2005. All of these positions have given her experience and insight into multiple aspects of real estate transactions and the development process, and she currently utilizes these skills as a member of the legal department. Prior to working for Pedcor, she worked in the auditing and actuarial departments of the American United Life Insurance Company.
Caitlin Burgess
Vice President & Paralegal
Ms. Burgess graduated from Indiana University-Purdue University Indianapolis in 2012 with a Bachelor’s Degree in Criminal Justice and a Paralegal Certificate. She previously worked as a Paralegal for a law firm with a focus in commercial real estate, and she specialized in multifamily HUD transactions. Ms. Burgess joined Pedcor’s legal department in 2019 as a Paralegal where she assists with all aspects of the development process including the preparation of legal documents, the compilation of due diligence, and all other matters related to corporate and development legal transactions.
Alexis Prater
Legal Assistant
Alexis Prater graduated from Purdue University, West Lafayette in 2021 with a Bachelor’s degree in Law & Society. She has been working in the legal field since August 2018 but prior to joining Pedcor’s legal team in February of 2022, she previously worked as a Legal Assistant at a law firm in Indianapolis, where she focused specifically on collections work. Mrs. Prater assists Pedcor’s legal and development teams with various tasks including bond compliance, annual reporting, invoicing, and contractor licensing.
Andrew H. Burroughs
Senior Vice President – Finance
Mr. Burroughs graduated from Indiana University in 1978 with a B.S. in Real Estate Administration. Mr. Burroughs worked for Merchants Bank/National City Bank of Indianapolis for over 9 years primarily responsible for placing construction and FNMA DUS permanent debt financing for market rate and affordable LIHTC rental housing. In 1995, he joined Bank One, Indianapolis, as Vice President of Community Development. His responsibilities included facilitating debt and equity investments for affordable 9% LIHTC rental housing, 4% LIHTC tax-exempt bond transactions and historic tax credit renovations for Community Reinvestment Act (CRA) purposes on behalf of Bank One and its related subsidiaries. In May, 2000, Mr. Burroughs joined Pedcor Investments as Senior Vice President to manage and service existing debt and equity relationships, manage bond arbitrage investments and establish new debt and equity relationships for each of Pedcor’s proposed developments. He is currently an independent Indiana licensed real estate broker and a Certified Commercial Investment Member (CCIM) candidate. He is also a past Chairman of the Local Advisory Council and member of the Project Review Committee for the Local Initiatives Support Corporation (LISC). LISC is a not-for-profit organization established to provide interim funding and/or grants to facilitate inter-city affordable housing, community development and economic development initiatives for independent community development corporations located within the Indianapolis MSA.
Dusty A. Israel
Senior Vice President – Development & Finance
Mr. Israel graduated from the University of Cincinnati’s College of Engineering with a BS in Civil and Environmental Engineering. After graduation, he became an onsite engineer for a major General Contractor working on multiple hospital construction jobs around the Midwest. He then joined the Procter and Gamble Company, supporting the company’s Global Fabric Care division as a Facilities Engineer. During his time at P&G, Mr. Israel transitioned into a finance role within the Chemicals & Ingredients Purchases organization, and in 2014, earned an MBA from Xavier University with a focus in Finance. That same year, Mr. Israel joined the Pedcor family in the finance and development group with responsibilities in asset management, cash management, deal underwriting, and financial reporting.
Susan M. Janssen
Vice President – Finance
Ms. Janssen graduated from the Indiana University Kelley School of Business in 1990 with a BS in Accounting. Immediately following graduation, she spent five months in Accra, Ghana West Africa working as a student intern for a local public accounting firm. Ms. Janssen has over 20 years of accounting and finance experience, having held various positions with Fortune 500 companies, including Plant Controller for The Gatorade Company (then a division of The Quaker Oats Company) and Financial Analyst at Stanley Black & Decker (formerly known as The Stanley Works) in Indianapolis. Ms. Janssen began her employment with Pedcor Investments in December, 2011.
Phillip W. Bernard
Assistant Vice President – Finance
Mr. Bernard graduated from Ball State University with a B.S. in Accounting. Before joining Pedcor, he had 8 years of prior accounting experience in various industries including hotel management and development, HOA and rental management, and road construction.
Alex McIntire
Draw Coordinator
Mr. McIntire graduated from Ball State University with a B.S. in Accounting in 2016 and earned his master’s degree in taxation from Indiana University Purdue University Indianapolis in 2017. After graduation he began working in public accounting for Katz, Sapper, and Miller in the tax department, mainly working on multi-state tax filing for trucking and construction clients. After three years of public accounting, Mr. McIntire transitioned to a position with Alter Domus, LLC as a Senior Fund Accountant where he worked exclusively with Closed-End real estate funds. During his three years in fund accounting, Mr. McIntire was primarily responsible for the monthly and quarterly financial statement preparation process, coordination of capital events such as capital calls and distributions to investors in the funds, and collaboration with external auditors. Mr. McIntire transitioned out of the fund accounting space and joined Pedcor in August of 2024 to assist in the draw coordination process.
Austin Gretencord
Financial Analyst
Mr. Gretencord graduated from the University of Indianapolis with a B.S. in Mathematics in 2016. Shortly thereafter, he began working as a Business Analyst for a government contracting company where he was responsible for SOW reporting duties to the client as well as improving business practices through various metrics and KPIs for internal departments. Mr. Gretencord then received his M.B.A with a concentration in Data Analytics in 2020 from the University of Southern Indiana. While attending graduate school, Mr. Gretencord transitioned to a Finance career path and joined Pedcor in the summer of 2019, where his responsibilities include maintaining in-balance calculations for deals under construction, cash management, and long-term investor projections.
Leo Milletary
Financial Analyst
Mr. Milletary is currently attending Indiana University Purdue University – Indianapolis in pursuit of a dual B.S. in Finance and Accounting. Mr. Milletary joined Pedcor in summer of 2019 and is currently a year-round finance intern.
Kara Strickland, PE
Vice President – Development
Ms. Strickland has over fifteen years of site/civil design and real estate development experience. She graduated with her Bachelors of Civil Engineering from Auburn University in 1999, taking her first job with a national engineering firm in Atlanta, GA. She continued to develop her site engineering expertise when she moved to Indianapolis in 2001, ultimately obtaining her Professional Engineering Licenses in Indiana, Florida, and Colorado. Ms. Strickland developed a focus area of Low Impact Development (LID) and Sustainable Design during her time on the design side, as well as help establish a Site Design Department in a transportation heavy design firm. Ms. Strickland’s interest in the real estate development side came shortly after obtaining her licensure, and she quickly gained experience nationwide with her first job in Commercial Development at Kite Realty Group in 2005. Her experience encompasses the full development process, from site selection through construction, including design coordination and entitlements. Before joining Pedcor in 2016, her last role in Healthcare Development included implementing the Integrated Project Delivery process within her team, bringing the full design and construction team together for a more efficient project design and delivery. Ms. Strickland joined Pedcor as a Vice President in Development, where she is responsible for the coordination of the civil engineering design and entitlement process for projects, nationwide.
Jarreth W. Vance, PE
Vice President – Development
Mr. Vance hails from Australia where he studied a Bachelor of Engineering (Environmental) at the University of Wollongong, graduating with honors. He worked in the Environmental and Mining sectors and studied a Master of Urban and Regional Planning at the University of New England as well as Business Foundations at the Melbourne Business School. After relocating countries to his wife’s hometown in Indiana, Jarreth worked in civil site development and water resource capacities at consulting firms EMH+T and The Veridus Group. Mr. Vance lead The Veridus Group’s Engineering Department as Director before joining Pedcor in 2020.
Colin Patterson, PE
Vice President – Development
Colin Patterson joined Pedcor in spring 2021 with more than 25 years of experience in civil engineering and construction, including 17 years specializing in site development. He is a licensed professional engineer in Indiana and a 1995 graduate of Tri-State University (now Trine University).
As an experienced consultant—most recently serving as a senior project engineer at American Structurepoint, Inc., in Indianapolis—Colin managed all aspects of site planning and development for a wide range of projects including retail development, industrial sites, municipal facilities, federal, airports, residential subdivisions, and multi-family housing. His expertise includes drainage, grading, water quality design, and underground detention. Colin has evaluated prospective projects to identify scope of work, time, and expense estimates; directed technical consultants including structural engineers, environmental engineers, surveyors, site electrical designers, landscapers, geo techs, utility locate services, and local utility representatives; coordinated with municipal planning and engineering offices, INDOT, IDEM, DNR, USAC, and FAA; submitted site documents for municipal review; represented clients at BZA, TAC and Plan Commission meetings; and resolved differences for timely approval.
Colin is known as a creative problem-solver, able to uncover innovative solutions to complex challenges. His stormwater management solution for Hendricks Gateway Park near Indianapolis is one example. He routinely explains engineering concepts to clients and other non-engineers, identifies opportunities for time and cost savings, and recommends solutions to address competing needs of stakeholders.
Outside of the workplace, Colin is active in urban beekeeping initiatives. He spends many weekends in March through November tending multiple hives in his urban backyard.
John S. Dabrowski
Vice President – Civil Engineering
Mr. Dabrowski graduated from Purdue University with a B.S. in Civil Engineering, with a focus in hydraulics and hydrology. He began his career as a site development engineer, gaining experience in multifamily, single family, industrial, municipal, and commercial markets, primarily in Illinois and Indiana. He joined Pedcor as a Vice President of Civil Engineering in 2023. Mr. Dabrowski is a licensed professional engineer in Indiana.
Kathleen (Kitty) Barbaglia
Vice President & Office Administrator
Ms. Barbaglia started with Pedcor in April, 1997 as an Administrative Assistant. She advanced to Development Assistant in June, 1999. Kitty works extensively with in-house developers assisting in all aspects of multifamily development, financing and construction related activities. Ms. Barbaglia is also responsible for working directly with the development finance team to obtain, track, and coordinate documentation required by HUD in preparation for new construction developments and the refinance of various Pedcor properties. In January, 2010 Ms. Barbaglia was given an additional supervisory role as Office Administrator, where her added responsibilities include coordination of the development group’s benefits, maintenance of employee records, implementation of new hire personnel documentation, scheduling of human resource training, and administration of all office supplies and maintenance. She has been a member of Indianapolis Commercial Real Estate Women (IndyCREW) since 2005, and served on the Board of Directors from 2009-2011. Ms. Barbaglia enjoys golf in her free time. She has also been a member of the Executive Women’s Golf Association (EWGA) since 2007, and has served on the Board of Directors from 2008-2010.
Karen Dillon Roth
Development Assistant
Ms. Roth graduated from Indiana University with a B.A. in Telecommunications and Forensic Studies. She began her career as a television news journalist, working 10 years as an award-winning TV anchor, reporter and producer at NBC and CBS affiliates in Ohio and Indiana. She then moved into marketing and event management, serving as Director of Public Relations and Communications for the White River Park Development Commission in Indianapolis (1986-89) and Director of Media Relations for the GTE/U.S. Men’s Hardcourt Tennis Championships (1987-89). Ms. Roth also served on the public relations committees for the Pan American Games (1987), the AAU Sullivan Awards (1986-88), and the White River Park State Games (1987-89).
After time off to raise her children, Ms. Roth accepted a position in 2000 with the Sapp Companies, serving in a variety of capacities including Director of Public Relations, Account Manager, and Office Manager. She served as Director of Advertising for ASO Magazine from 2004-2007.
Ms. Roth joined Pedcor in 2007, where her current responsibilities include assisting in the preparation of investment proposals and applications, conducting market surveys, and providing overall office and administrative support to the development team.
Cheryl E. Bruin
Development Assistant
Ms. Bruin joined Pedcor Investments in 2005 as a Development Assistant. Prior to joining Pedcor, she was Executive Assistant to the President of Banking at Old National Bank. Ms. Bruin holds an Associate’s Degree in Office Administration and has over twenty years of experience as an Executive Assistant.
Lexi Watkins
Development Assistant
Lexi received her Associate’s Degree in Business from Ball State University. Prior to joining Pedcor in January of 2022, she was an Administrative Assistant at Inktel Contact Center Solutions. Lexi has an upbeat and energetic attitude which she uses to create a positive environment for everyone around her. She is excited to grow into her role at Pedcor.
Nasair William Plane
Administrative Assistant
Mr. Plane attended Indiana State University and plans to pursue a degree in Sales Management. He spent more than a year as an Engagement Specialist for Startek INC, responsible for Sprint’s international telecommunication services. Mr. Plane joined Pedcor in 2016 as an Administrative Assistant, where his responsibilities include conducting market surveys, entering invoices, filing deal documents, and providing additional help to the development division.
Pamela Pedigo Delk
Principal Of Design & Aesthetics
Ms. Delk graduated from Ball State University with a B. A. in Management Information Systems, Marketing with an Interior Design Interest, and an Interpersonal Relations Minor. Her interest in real estate and interior design began at an early age, as she watched her father develop and build homes and her mother decorate the models. After college, she took a development position at St. Francis Hospital, assisting in the computerization of the hospital’s disease-tracking system, disaster recovery plan, and human resources and communication departments. This led to a position as a recruiter with Infotech Computer Systems. After time off to raise her three children, Ms. Delk took a position as an Interior Designer with a local gallery, where she was a member of the design team specializing in Residential Décor and Show Homes. In 2003, Ms. Delk founded her own Residential Design and Décor company, assisting clients with the selection of furniture, lighting, materials, finishes, and accessories. Ms. Delk joined Pedcor as Aesthetic Director in 2016, where she is responsible for creating and implementing the overall design aesthetic for all Pedcor clubhouses, models and individual apartment units for both new construction and remodels. Pam works closely with the project managers, management team, and outside vendors to determine style, color palette, space requirements, and layout – as well as selecting all indoor and outdoor furnishings, lighting, and décor materials. Ms. Delk’s greatest pleasure is creating functional, safe, and beautiful spaces that meet both Pedcor’s vision and the needs of its various apartment communities.
Anne Buccilla
Design Assistant
Anne graduated from Ball State University with a Bachelor of Science degree in Interior Design with a Psychology minor. Upon graduation, Anne worked for a local commercial design company for two years before starting her own design firm specializing in commercial interior design. Anne worked on projects including models and clubhouses for area builders and assisted living communities in Indiana. Anne operated her business for 17 years before deciding to stay home to raise her children. Anne has a passion for interior design and creating beautiful spaces. Anne worked as a design consultant for Pedcor for 2 years, before joining the company full time in 2021.
Maureen M. Hougland
Senior Vice President & Secretary
Born January 5, 1958, Ms. Hougland has over 34 years real estate experience since graduating from Indiana University in 1980 (BS – Biology). Her real estate background began when she was hired as the pilot employee for Monroe County Land Title Co., Inc. upon its formation in 1980, where she performed a multitude of duties which included searching titles, examining chains of titles, reviewing surveys, closing residential and commercial transactions and serving as escrow agent for financial institutions distributing draws on behalf of residential and commercial developers. Ms. Hougland joined the Real Estate Section of Ice Miller Donadio & Ryan in 1984, where she provided paralegal support for the Section which represented commercial and multi-family real estate developers, lenders and investors, primarily in the areas of financing and development issues.
Ms. Hougland obtained her Paralegal Degree from Indiana University in 1988. She is a member of the Indiana Paralegal Association. In 1994, Ms. Hougland joined Pedcor Investments where she provided paralegal support to Pedcor and its related affiliates. Ms. Hougland is now responsible for all real estate tax appeals and assessments in Pedcor’s portfolio as well as all of its affiliates in addition to providing support to Development, Management and Signature, Construction, LLC. Ms. Hougland has served as a panelist for the Indiana Housing Finance Authority. She serves as a corporate officer for Pedcor and all of its affiliates, and is currently a member of the Board of Directors of Pedcor Affordable Management, Inc., Anderson Hall Homeowner’s Association, Inc. and past Board member of the Sommerwood Homeowners Association, Inc. She was a charter member of the Indianapolis Chapter of CREW (Commercial Real Estate Women) and is a member of NAPW (National Association of Professional Women). Ms. Hougland serves on the Legislative Committee of the Indiana Apartment Association and resides in Carmel, Indiana.
Lindsey Shook
Vice President & Assistant Real Estate Tax Manager
Lindsey Shook graduated from Indiana University in 2011 with a BA in Biology. Her real estate background began in high school when she worked for Pedcor Companies in the Development department. She performed many administrative duties there as well as obtaining and compiling market study data. She resumed her work at Pedcor Companies in March 2012 as the Executive Assistant to the President. She became a Vice President in the Real Estate Tax and Support department in 2017 and is specifically responsible for real estate tax appeals, compiling reporting information to various states and counties, and annual budget accruals for Pedcor’s portfolio.
She currently lives in Westfield with her husband Creighton, two daughters Allie and Olivia, and her mini goldendoodle Max.
Heather L. Bennett
Assistant Vice President & Administrative Assistant
Mrs. Bennett graduated from Pensacola Christian College in 2009 with a B.S. in Legal Office Administration. She worked for Pitney Bowes in Barnes & Thornburg as a Customer Care Representative until she joined Pedcor’s Development and Legal team in 2011 as an Administrative Assistant. In 2016, she transferred to the RETAS team where she currently works with Maureen Hougland and Lindsey Shook as their Administrative Assistant and has since advanced to Assistant Vice President of Pedcor Investments.
Heather also serves her community as Public Relations Director for God’s Team, a Reader’s Theatre performance group with an outreach in the Indianapolis and surrounding areas.
Angela Hochstettler
Administrative Assistant
Angela joined Pedcor Companies in August of 2019 as an Accounting Assistant in the Accounts Payable department. She rose to Senior Accounting Assistant before transferring in 2024 to join the Real Estate Tax and Support team where she is currently the Administrative Assistant for the department.
Prior to joining Pedcor, Angela worked for First National Bank and Anderson Community School Corporation. She also volunteered at The Little Sisters of the Poor St. Augustine Home for several years before becoming their bookkeeper of nearly 5 years.
She is happily married to Robert, and they have 4 wonderful grown children and grandchildren. Her faith and family are what keep her going.
Subsidiary Development Corporations
Village Capital Corporation (VCC), Pedcor Housing Corporation (PHC), and Pedcor Community Development Corporation (PCDC) are a wholly-owned subsidiaries of United Fidelity Bank, fsb, formed to develop, finance, and construct affordable housing. Each division also develops and constructs new market rate apartment units and affordable acquisition/rehabilitation projects throughout the United States.
VCC Executive Team
PHC Executive Team
VCC/PHC Development
VCC/PHC Accounting & Finance
Legal
VCC/PHC Development Support
Alison S. Birge
President
Ms. Birge directs multi-family development for Village Capital Corporation and Pedcor Housing Corporation. She joined Village Capital Corporation in 2015 to grow the company’s multi- family development activities across the country, including Indiana, Minnesota, Colorado, North Carolina and Texas. She joined Pedcor Investments (an affiliate of Village Capital Corporation and Pedcor Housing Corporation) as a developer in 2004. During her tenure with Pedcor Investments, Ms. Birge developed affordable housing communities in Tennessee and Iowa.
Prior to joining the Pedcor Companies, Ms. Birge worked for Toyota, Conseco and Frito-Lay. Ms. Birge earned an M.B.A. from the University of Michigan’s Ross School of Business in 2004. She earned a B.A. from Georgetown University in 1996.
Melissa Averitt
Senior Vice President
Joining Pedcor in January of 2005, Ms. Averitt acted as legal counsel to Pedcor Bancorp orchestrating financial transactions with Pedcor affiliate entities on projects and transitioned to marketing and leasing in the summer of 2005. She is now Senior Vice President for Pedcor overseeing their marketing and leasing department, working with businesses and individuals who have interest in Pedcor-developed projects in Carmel, Indiana. In 2014, Ms. Averitt joined Village Capital Corporation to assist in documenting safety and soundness in their multi-family development activities as well as assisting in acquisition rehabilitation projects in which the company makes investments. Ms. Averitt, born and raised in Indianapolis, graduated Cum Laude from Xavier University in Cincinnati, Ohio. She worked at Merrill Lynch, where she held her Series 63 and Series 7 designations while attending law school at the Robert H. McKinney School of Law, graduating and passing the Indiana bar in 2001.Alison S. Birge
President
Ms. Birge directs multi-family development for Village Capital Corporation and Pedcor Housing Corporation. She joined Village Capital Corporation in 2015 to grow the company’s multi- family development activities across the country, including Indiana, Minnesota, Colorado, North Carolina and Texas. She joined Pedcor Investments (an affiliate of Village Capital Corporation and Pedcor Housing Corporation) as a developer in 2004. During her tenure with Pedcor Investments, Ms. Birge developed affordable housing communities in Tennessee and Iowa.
Prior to joining the Pedcor Companies, Ms. Birge worked for Toyota, Conseco and Frito-Lay. Ms. Birge earned an M.B.A. from the University of Michigan’s Ross School of Business in 2004. She earned a B.A. from Georgetown University in 1996.
Melissa Averitt
Senior Vice President
Joining Pedcor in January of 2005, Ms. Averitt acted as legal counsel to Pedcor Bancorp orchestrating financial transactions with Pedcor affiliate entities on projects and transitioned to marketing and leasing in the summer of 2005. She is now Senior Vice President for Pedcor overseeing their marketing and leasing department, working with businesses and individuals who have interest in Pedcor-developed projects in Carmel, Indiana. In 2014, Ms. Averitt joined Village Capital Corporation to assist in documenting safety and soundness in their multi-family development activities as well as assisting in acquisition rehabilitation projects in which the company makes investments. Ms. Averitt, born and raised in Indianapolis, graduated Cum Laude from Xavier University in Cincinnati, Ohio. She worked at Merrill Lynch, where she held her Series 63 and Series 7 designations while attending law school at the Robert H. McKinney School of Law, graduating and passing the Indiana bar in 2001.
Abigail G. Frantz
Senior Vice President & Secretary
Ms. Frantz graduated with a Bachelor of Arts in History (Magna Cum Laude and with Honors), and a minor in French from the University of New Hampshire in 2000. She completed her Master of Arts in European History at the University of Wisconsin-Madison in 2003. Ms. Frantz joined Pedcor Bancorp in January 2004 and is presently the Senior Compliance Officer responsible for Pedcor’s bank holding company regulatory compliance. In April 2015, she joined Village Capital Corporation and Pedcor Housing Corporation as a multifamily developer. Ms. Frantz also serves on the Board of Directors of Village Montessori PACT, Inc.
Anthony Gary
Vice President – Development
Mr. Gary graduated from Ball State University’s College of Architecture and Planning and Honors College in 2012 and earned a Butler University MBA in 2021. He joined Village Capital Corporation in 2018 after beginning his career in retail + mixed-use real estate development. He is a member of Real Estate Ascending Leaders in Indianapolis and is a licensed real estate broker in Indiana. Anthony serves his local community as a youth sports coach and serves at his home church. He is currently working on new development projects in several states.
William Harvey
Junior Financial Analyst
Allie Brown
First Vice President & Chief Financial Officer
Ms. Brown graduated from the Krannert School of Management at Purdue University with a degree in Accounting in 2009 and obtained her CPA in 2012. Ms. Brown joined Pedcor in March of 2016, having previously worked as a controller and operations & compliance manager for a wealth management company based in Savannah, GA, as well as a corporate accountant for a healthcare company that constructed and operated behavioral healthcare facilities.
Cole Leamnson
Vice President – Finance
Mr. Leamnson graduated from Miami University of Ohio in 2016 with a degree in Finance and joined Village Capital Corporation as a financial analyst. Mr. Leamnson assists in determining the feasibility and profitability of real estate projects, securing financing for real estate transactions, and managing internal regulatory limits.
Chad Whitman
Senior Accountant
Ben Pearce
Senior Accountant II
Mr. Pearce graduated from Indiana University in 2012, earning two Bachelor of Science degrees in Accounting and Finance. Mr. Pearce joined the Pedcor family in March of 2013, having previously worked as a finance intern for Indiana Sports Corp. Mr. Pearce worked as a staff accountant at Pedcor Investments for 5 years before joining Village Capital Corp in May of 2018 as a Senior Accountant. Currently, Mr. Pearce reviews monthly financials, prepares construction draws, and creates the annual audit.
Daniel Morse
Senior Accountant II
Mr. Morse graduated from Montana State University with a Bachelor of Science in Business in 2015 and a Master of Professional Accountancy in 2016. He obtained his CPA license in 2018 while working as an auditor for the Alaska Division of Legislative Audit. Mr. Morse joined Pedcor in November of 2021 as a Senior Accountant II.
Hudson Shalley
Staff Accountant
Craig Schildmeier
Financial Analyst
Lana Sagalova
Senior Accounts Payable Specialist
Carla Uhlarik
Vice President & Counsel
Elisha Hollandbeck
Paralegal
Niki K. Snyder
Development Assistant
Ms. Snyder attended Indiana University at Indianapolis working towards her Liberal Arts / Political Science degree. During her time at the university, Niki worked at a large information technology firm handling all aspects of the administrative role including payroll, scheduling, correspondence and later taking on the role of Administrative Supervisor. Before joining Village Capital Corporation (VCC), Ms. Snyder worked at a local engineering firm as Office Manager. Her background made for a seamless transition when she joined VCC.
Ms. Snyder joined Village Capital Corporation in 2016. She has been an integral part of improving and streamlining the recruiting process, board planning, and keeping an open line of communication within the team and other departments. Her ongoing efforts have resulted in helping the efficiency of the team and all levels of the company.
Pedcor for the People
|Inclusivity Institute
Few human decisions are more important to household and community stability than a family’s choice of where to live.
But that has not always been the case for every American, especially African Americans and Latinos, who have faced a history of housing segregation. Owning a home is all but an impossible dream for an increasing number of poor families. Starting in mid-2019, Pedcor has worked with the non-profit The Inclusivity Institute to help research, outreach, and collaborate to reduce racial and economic segregation in American housing markets. The Inclusivity Institute largely focuses on the problem of housing segregation on a national basis, and works with the top research scholars, planners, community activists, developers, and bankers to develop strategies that efficiently work towards creating measurable change in making our communities inclusive.
Pedcor is a very reputable organization and responsible corporate citizen that adds substantial value to the communities where they develop. A community should welcome them. I don’t know if there’s ever been a workforce housing development better than the one they developed in Crystal Lake, IL [referring to Congress Parkway Apartments].
– Tom Burney, Zoning Attorney, Law Offices of Thomas R. Burney, LLC