Affordable housing owner Gene B. Glick Co., Inc., jumped back into new construction in 2010 after nearly 20 years. In late 2012, it began development of its first project under Safe Harbor guidelines in partnership with the Gene B. Glick Family Housing Foundation, Inc.
The 50-unit Arden Woods, located north of Indianapolis, will serve low- and moderate-income households when it is completed this summer.
Late last year, the firm also began a reorganization to better support its assets.
“We’re working on a strategic plan for the organization to continue to be viable for another 65 years,” says Sarah Wood, vice president of property management for the affordable portfolio.
Wood says the firm has increased staffing in marketing, operations, and maintenance to better serve residents and staff.
The firm also received another 21 service coordinator grants from the Department of Housing and Urban Development, bringing its total to 32 grants. The service coordinators link seniors and disabled residents to services to help them live independently in their homes longer.
In the first three years of the grants, the firm estimates that it will serve 11,000 residents and provide $13.3 million in cost savings for those individuals.