INDIANAPOLIS, Oct. 1, 2026 – The Glick Company preserved 204 affordable apartment homes for seniors and people with disabilities at Carriage House Glendale through an $8.8 million renovation, investing more than $43,000 per unit. This public-private partnership ensures these one-bedroom apartment homes remain affordable, high-quality places to call home for decades to come.

In Indiana, only 34 rental homes are affordable and available for every 100 extremely low-income households, creating a shortage of 138,137 rental homes and underscoring the need to preserve existing affordable housing while developing new options, according to the National Low Income Housing Coalition.

“Every completed preservation project represents important progress toward narrowing Indiana’s affordable housing gap,” said David Barrett, chairman, president and CEO of Glick. “Preserving communities like Carriage House Glendale allows us to protect affordable homes that already exist while improving quality of life for the people who call them home.”

Built by Glick in 1978, Carriage House Glendale is a federally subsidized apartment community on the northeast side of Indianapolis. Through CRG Residential’s RAPID Occupied Renovation process, construction on each apartment home was completed in two to three days so residents could return quickly to a renovated home. Each unit received the following updates:

• Kitchen and bathroom upgrades, including new cabinets, countertops, sinks, appliances, and a bathtub

• Updated flooring through the entry, kitchen, bath, and dining areas

• New interior and exterior doors, windows, and HVAC units

• Electrical updates, including new electrical panels and light fixtures

Of the 204 apartment homes, five were designed for residents with hearing or visual disabilities, and 21 were updated to meet current ADA standards. The broader apartment community also received new roofing, gutters, shingles, and balcony railings, as well as modernizations to the community rooms, leasing office, and elevators.

The project was financed with multifamily tax-exempt bonds and 4% Low-Income Housing Tax Credits (LIHTC) allocated by the Indiana Housing and Community Development Authority. PNC arranged the equity investments and Merchants Capital Corp. provided permanent lending and construction financing.

In addition to providing a quality building to call home, Glick employs a resident service coordinator at Carriage House Glendale, funded by a grant from the U.S. Department of Housing and Urban Development, who connects residents to resources and programs that help meet basic needs and support well-being. Carriage House Glendale also houses a resource hub where resident service coordinators from across Central Indiana can access basic needs items to provide to their residents, including food, personal hygiene products, diapers and wipes, bus passes, and shoes.

“Supporting residents is at the core of our mission,” said Ceceily Cliff, director of resident success at Glick. “We want to ensure residents have access not only to housing and community, but also to resources that help them achieve their family or individual goals. The resource hub allows us to reach residents more efficiently and effectively with the resources they need in partnership with other area organizations.”

Across the country, Glick has completed rehabilitations at 14 communities since 2017, preserving 2,688 affordable apartment homes, including 2,181 in Indiana. These projects were made possible by the federal LIHTC program.

In September, Glick received the Recognition of Housing Tax Credit Excellence in the HUD Preservation category from the Affordable Housing Tax Credit Coalition for its work to preserve Briarwood of Lexington, an affordable apartment community in Lexington, Kentucky serving seniors and people with disabilities.

About Gene B. Glick Company

The Glick Company, based in Indianapolis, is one of the largest privately held real estate ownership, development, and management firms in the country with nearly 23,000 multifamily units across 13 states. For nearly 80 years, Glick has built value for people and places by investing in team members, residents, and the communities they serve. For more information, visit genebglick.com.