Merchants Affordable Housing Corp. has rebranded to RDOOR Housing Corporation and has moved its headquarters to Indianapolis.
Since 1981, RDOOR has developed affordable multifamily housing units. Today, the organization embarks on the next chapter as one of the largest nonprofit providers of affordable housing in Indiana.
“Though we are proud of our founding connection to Merchants Bank of Indiana and their continued support of our organization, as we grow in size and scope, RDOOR captures what we do and what we will be,” said RDOOR President and CEO Bruce Baird. “RDOOR comes from the word ardor, meaning passion. RDOOR embodies our team’s unyielding passion for improving people’s lives by increasing access to quality rental housing opportunities while building or renovating, affordable and safe homes.”
RDOOR and its closely aligned affiliates’ current portfolio consists of more than 3,000 units throughout Marion County and Indiana, and the team is continuing to look for opportunities to expand outside the state. The comprehensive rebrand is an effort to continue providing high-quality, affordable housing while growing and improving its portfolio.
As part of the rebrand, the organization renovated the former Girls Inc. office at 441 W. Michigan St. in Indianapolis as its new headquarters. The downtown Indianapolis location will allow the RDOOR team to be closer to its clients and co-locate with Partners in Housing. An official ribbon-cutting ceremony will take place in the spring.
RDOOR’s portfolio consists of 19 properties throughout Indiana. A hallmark project is The Village of Merici, which rehabilitated a historic building on the Fort Benjamin Harrison campus in Lawrence, Indiana. It includes 20 ADA-compliant, modern apartments for adults with developmental disabilities funded with Low-Income Housing Tax Credits.
The property offers a uniquely interdependent community for residents, support staff, community coaches and families to create an environment that affords the residents a solid foundation on which to grow as individuals in self-sufficiency and independence.
In 2022, RDOOR supported 363 households exiting homelessness, including 292 permanent housing placements through HomeNow Indy. As a result, RDOOR was awarded $8 million in grant funds to support those experiencing homelessness with placement in permanent housing.
RDOOR also acquired the 40-unit Wexford on the Park senior apartments on the near westside of Indianapolis and 50 units of affordable housing in midtown called Illinois Place Apartments. RDOOR preserved more than 350 units of affordable housing that were at risk of defaulting or converting to market rate in 2022.