Division: Carmel Mixed-Use Development
Bruce A. Cordingley
Mr. Cordingley has been involved in commercial and residential development and financing since 1971. He graduated in 1968 from Purdue University (BS-Industrial Management) with Distinction and Honors in Economics. In 1971 he graduated from the Harvard Law School with a Juris Doctor degree. He earned a MA in Economics from Indiana University in 2000, a MS in International Finance in 2004 from the University of Maryland and attended a graduate program in Mathematical Finance at Oxford University in 2000 to 2001.
After a two-year affiliation with Bingham Dana & Gould, Boston, Massachusetts, Mr. Cordingley joined Ice Miller Donadio & Ryan, Indianapolis, Indiana, in 1973 as an associate, becoming a partner in the firm’s Real Estate Section in 1980. His legal practice focused on representation of real estate developers in all aspects of the development process (zoning, construction and permanent financing, acquisition, sales, joint ventures, syndications and tax matters).
In 1973, Mr. Cordingley began investing in real estate for his own account through International Enterprises, Inc., which owns and manages apartment communities in Indiana. In 1986, he started the development of the Bridlebourne subdivision in Carmel, Indiana which subsequently became the highest priced residential development in the State of Indiana. In 1987, he joined with Jerry Pedigo in forming Pedcor Investments to develop affordable rental housing. In 1992, Mr. Cordingley formally withdrew from Ice Miller to devote full time his efforts to the development activities of Pedcor Investments.
In addition to President and CEO of Pedcor Investments, Mr. Cordingley is chairman of United Fidelity Bank of Evansville, Indiana. He is President and CEO of Pedcor Financial, LLC, and Pedcor Financial Bancorp, the senior holding companies for United Fidelity Bank. He is also chairman of Fidelity Federal Bancorp and its subsidiaries.
He was a director of Eastside Community Investments, Inc. from 1983 to 1996. Mr. Cordingley was a director of the Indianapolis Economic Development Corporation, a city development corporation, from 1985 to 1988. He was also Commissioner (1983-1986) and President (1984-1986) of the Indianapolis Historic Preservation Commission, a governmental body that regulates historic districts and promotes preservation and a board member of the Riley Area Revitalization Program, a community development corporation from 1982 to 1987.
He is a veteran ending his service from 1968-1976 as a Captain in the US Army.
He is married to Denise, a retired French teacher, and he and Denise have 3 children and 4 grandchildren.
Read MoreDoug Boggs
Mr. Boggs graduated from Ball State University in 1992 (BS – Accounting). He started his career with Pedcor Investments, LLC as a Staff Accountant in 1993. In 1995, Mr. Boggs went to work for Simon Property Group, the largest REIT in North America at the time, where he worked for three years holding both Staff & Senior Accountant roles. In 1998, Mr. Boggs was re-hired by Pedcor Investments, LLC as an Assistant Controller and was later elevated to CFO in 2006 where he currently serves in the same role. Mr. Boggs has over 25 years of residential and commercial real estate accounting experience. In 2019, he was named the CFO of Pedcor Financial, LLC, the upper tier bank holding company for United Fidelity Bank, fsb (Evansville, IN) where he currently serves in the same role. Mr. Boggs oversees the Real Estate & Bank Holding Company accounting operations for Pedcor Companies, which includes approximately 40 accounting and finance staff members.
Read MoreGerald K. Pedigo
Mr. Pedigo has been involved in residential and commercial real estate development since 1958. He attended Butler University and subsequently was employed in the business of single-family construction and sales.
In 1962, Mr. Pedigo began his own firm while constructing approximately 400 custom homes and expanded his business to include commercial and industrial activities. Beginning in 1966, Mr. Pedigo concentrated on the commercial side of the construction business, forming Gerald K. Pedigo Corporation to provide real estate development services; Pedigo Construction Company, Inc. to provide construction services; and Pedigo and Associates to provide management services. His involvement included all facets of the industry including construction, ownership, marketing/leasing and management. He completed over 100 commercial and office buildings from $100,000 to $8,000,000. He was also a partner in several partnerships that owned and developed commercial and residential properties in Indiana, Florida, and Tennessee.
In 1986, as the tax shelter incentives were being revised, Mr. Pedigo sold the majority of his holdings and concentrated on general construction. In 1987, he joined Bruce Cordingley in forming Pedcor Investments to pursue affordable housing development.
Mr. Pedigo is a Director of Fidelity Federal Bancorp (Evansville, Indiana) and United Fidelity Bank. He is Chairman of Pedcor Investments LLC, Pedcor Financial Bancorp and Pedcor Financial, LLC, the holding company for United Fidelity Bank. He is a member of the Murat Shrine in Indianapolis and various trade associations.
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Melissa Averitt
Joining Pedcor in January of 2005, Ms. Averitt acted as legal counsel to Pedcor Bancorp orchestrating financial transactions with Pedcor affiliate entities on projects and transitioned to marketing and leasing in the summer of 2005. She is now Senior Vice President for Pedcor overseeing their marketing and leasing department, working with businesses and individuals who have interest in Pedcor-developed projects in Carmel, Indiana. In 2014, Ms. Averitt joined Village Capital Corporation to assist in documenting safety and soundness in their multi-family development activities as well as assisting in acquisition rehabilitation projects in which the company makes investments.
Ms. Averitt, born and raised in Indianapolis, graduated Cum Laude from Xavier University in Cincinnati, Ohio. She worked at Merrill Lynch, where she held her Series 63 and Series 7 designations while attending law school at the Robert H. McKinney School of Law, graduating and passing the Indiana bar in 2001.
Read MoreJames R. Stutzman, AIA
Mr. Stutzman is Senior Principal Architect and VP at Pedcor Design Group since its formation in 2004. He has practiced Architecture since 1976 and holds professional Architectural licenses to practice in 11 States and the US Virgin Islands and a Real Estate Broker’s License in Indiana. Mr. Stutzman earned a BArch professional degree from Ball State’s College of Architecture & Planning including studies in London and Lima, Peru. Mr. Stutzman has wide experience in multi-family housing for various HUD programs and has served as a certified HUD inspection professional. Over his career Mr. Stutzman has design specialization for multi-family projects, historical rehabilitation, child day-care facilities, postal facilities and forensic consulting. His responsibilities at Pedcor include quality control, code specialization, certifying projects for State approvals, coordinating the various disciplines, and contract administration.
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