Our Indiana Market

Gorman & Company’s expansion into the Indiana market began with their Public Housing platform’s rehabilitation of Carolyn Mosby Tower in Gary, Indiana. The Carolyn Mosby Community is an existing eight story development consisting of 136 one-bedroom and six two-bedroom, beautifully updated and ADA compliant units. Originally constructed in 1970, the former Public Housing project underwent a rehab in place for the older adult community (55+) within the building and now serves those living within the income groups of 30% – 60% Area Median Income (AMI).

Gorman & Company utilized Section 18 of the U.S. Housing Act of 1937 to make this renovation possible along with a collaborative partnership with the Gary Housing Authority. This project was completed in 2023.

Our future work in Indiana will continue to focus on historic adaptive reuse, urban infill, and workforce housing.

Meet Indiana's Team
Carolyn Mosby Tower, Gary, IN

Carolyn Mosby Tower
Total Development Cost: $21,660,699

The Carolyn Mosby Community is an existing eight story, adaptive reuse development consisting of 136 one-bedroom and six two-bedroom, beautifully updated and ADA compliant units. Originally constructed in 1970, the former public housing project underwent a rehab in place for the older adult community (55+) within the building and now serves those living within the income groups of 30% – 60% Area Median Income (AMI).

Gorman & Company utilized Section 18 of the U.S. Housing Act of 1937 to make this renovation possible along with a collaborative partnership with the Gary Housing Authority.

Workforce Housing Example

Alta Verde
Total Development Cost: $32,337,000

Alta Verde is an 80-unit new construction apartment community in Breckenridge, Colorado. The Town of Breckenridge awarded a competitive RFP for a developer of the site to Gorman & Company, LLC. This project has a perpetually affordable deed restriction on all units. The project includes 64 LIHTC units, with income and rents capped between 30% and 60% AMI and 16 non-LIHTC units with incomes capped at 100% AMI and rents set to 60% AMI.

The project will be certified by the Zero Energy Ready Home (ZERH) program and will attain a Net Zero Energy designation. Ample on-site amenities will include on-site management, central laundry facilities, year-round bike/pedestrian trail access, picnic area, community room with a kitchen, pet area, tot lot, community garden, electric charging stations and close proximity to the free County-wide bus.

Trent Claybaugh

Indiana Market President

Meet Trent

Trent Claybaugh joined Gorman & Company in 2021 as the Development Manager for the Wisconsin market. In this capacity, he sourced and managed a variety of affordable housing projects throughout the state. In 2023, he was elevated to the position of Indiana Market President. He currently resides in Bloomington, Indiana.

Prior to beginning his tenure at Gorman & Company, Trent worked as an asset manager for Wisconsin Housing Preservation Corporation. Before pursuing a career in affordable housing following graduate school, he worked as an analyst for a Fortune 500 company in Minnesota.

Trent received a Master of Public Affairs degree from the University of Wisconsin – Madison and a Bachelor of Science degree with a major in economics and a minor in mathematics from the University of Minnesota – Twin Cities.

Duane Buscher
Senior Financial Analyst

Duane, Senior Financial Analyst, focuses on underwriting LIHTC projects. He works with Market Presidents & Construction Accounting at all stages of development to evaluate feasibility and conduct proforma analysis.

He previously worked as an Underwriter for the Missouri Housing Development Commission. He holds a BA in Psychology and a master’s in Urban Planning from the University of Kansas.

Rachel Snethen
Director of Development Operations

Rachel oversees development & marketing along with the EB-5 Regional Center. She provides training, mentorship, quality assurance, and best practice implementation. She manages efforts between funding partners through closing, construction, and stabilization.

Rachel has an MBA & B.S. in Management & Business from Franklin University and Associate Degree in Real Estate from Madison College.