Pedcor Celebrates 35 Years!

This year, Pedcor is celebrating 35 years in business! Pedcor Companies was formed in 1987 by Bruce Cordingley and Jerry Pedigo to provide high-quality, affordable housing solutions in areas of opportunity that cultivate thriving communities and a higher quality of life. Phillip Stoffregen joined the company in 1992 as a principal. The company has grown tremendously over the past 35 years. Pedcor started with two apartment communities in Indiana with four site-level and two corporate employees. Now, Pedcor has grown to over 800 employees and a portfolio of 180+ communities across 21 states.

Pedcor’s History

English Village Apartment Community
English Village Apartment Community

English Village, located in Indianapolis, Indiana, was the first Pedcor-built apartment community and it opened its doors in December 1989. The property was a Low Income Housing Tax Credit (LIHTC) with 208 units. Let’s review how Pedcor has evolved over the past 35 years.  

June 1989: Pedcor Investments, LLC is formed (one of the first limited liability companies in the nation)

December 1989: First LIHTC Development is built and opened

March 1990: Signature Construction, LLC is formed

April 1994: Village Capital Corporation is formed

July 1995: Pedcor acquires Flagship Bank

February 1996: Flagship Bank merges with International City Bank and the first bank holding company, Pedcor Bancorp is formed

October 1996: Pedcor Homes is formed

March 2000: Pedcor Financial, LLC is formed

December 2002: Pedcor purchases the Village affordable apartment communities from United Fidelity Bank

December 2002: Pedcor breaks ground on its Carmel, IN campus

January 2004: Mayor of Carmel, Jim Brainard, and the Carmel Redevelopment Commission approaches Pedcor to design and develop its new city center

May 2005: Pedcor Financial acquires United Fidelity Bank

August 2007: Pedcor hits 10,000-unit mark for total apartments

April 2008: Pedcor breaks ground on Carmel City Center and Indiana Design Center

April 2016: Pedcor ranked #1 affordable housing developer by Affordable Housing Finance Magazine

October 2017: Pedcor hits 20,000-unit mark for total apartments developed

June 2020: Pedcor develops in its 20th state

November 2021: International City Bank merges into United Fidelity Bank

December 2021: Pedcor hits 30,000-unit mark for total apartments developed

Pedcor Companies is a full-service development, construction, property management, banking and finance team committed to creating stable, inclusive, and quality rental housing across the nation. We are cultivating thriving communities. For more information, please visit our website.

Pedcor supports the federal fair housing act and all state and local laws prohibiting discrimination in housing with regard to race, color, religion, national origin, sex, familial status, handicap, creed, sexual orientation, gender identity, and lesbian, gay, bisexual, transgendered (LGBT+) individuals. Pedcor is an equal opportunity provider and employer.