Glick Housing Foundation Acquires Seven Affordable Housing Properties Across Indiana
INDIANAPOLIS, November 30 – The Glick Housing Foundation today announced the acquisition of seven affordable housing properties in Indiana, including six purchased from Community Reinvestment Foundation. The acquisition is the largest in the history of the Foundation and one of the largest in the state of Indiana for 2021.
With today’s acquisition, the Glick Housing Foundation’s portfolio expands to 42 not-for-profit affordable housing properties with nearly 7,000 units, including more than 3,700 in Indiana. The expansion and preservation of affordable housing is critical, as many Hoosiers are in need with too few affordable rental homes available.
“Safe and stable housing is the bedrock of strong communities,” said David Barrett, president and CEO of the Glick Family Foundation. “As housing prices continue to rise, it is more important than ever that we strive to provide quality, affordable housing for individuals and families. Our investment in these seven properties will enable us to further our mission.”
The acquired properties are located across Indiana, in New Albany, Bedford, Shelbyville, Bloomington, Lebanon, and Indianapolis. Each is designated as affordable housing under the tax credit, Section 8, or another recognized affordable housing property type. Glick Philanthropies will commit additional funds as part of this transaction to ensure that residents are cared for and that the properties continue to be well-maintained.
“Glick’s excellent reputation for property management and resident support made the company a clear choice for this acquisition,” said Dwayne Shaw, Executive Director of Community Reinvestment Foundation. “We were pleased to work with a fellow nonprofit organization focused on affordable housing and headquartered in Indiana for this sale.”
At each acquired property, the Glick Housing Foundation will employ a Service Coordinator – a dedicated employee to help residents navigate community services and build bridges to self-sufficiency. Over the past decade, Service Coordinators have assisted over 50,000 residents and helped them obtain benefits and supports totaling more than $110 million in cost savings.
About the Glick Housing Foundation
The Glick Housing Foundation is dedicated to the acquisition, development and preservation of quality, affordable housing for low-income residents and is a part of Glick Philanthropies, a family of charitable initiatives, programs and organizations focused on building community and creating opportunity. For more information, visit GlickPhilanthropies.org.