Andy Rosenthal, DMSB'07, used to sell software to hedge funds. Now, he is the co-founder of The Terebinth Group in Indiana, the largest, family-owned provider of housing to people with intellectual and developmental disabilities. Rosenthal co-founded the Indianapolis-based company with his brother-in-law and their wives in 2016 after realizing he wanted more meaning in both his personal and professional life.
The company owns and operates 68 high-quality homes, which provide housing for more than 225 people throughout the state.
“In short, we find homes, fix them up, customize them to suit the tenants—think wheelchair accessibility, replacing door knobs with door levers, waterproof flooring, installing roll-in showers, etc.—and then rent them directly to the individuals,” he said. “We're a real estate company focused on providing quality, safe, affordable housing to a vulnerable community. These people simply don't have the same level of access to a home that I would live in myself.”
According to a 2014 study conducted by Braddock, et al, Coleman Institute and Department of Psychiatry, University of Colorado, approximately 6,000 individuals with disabilities in Indiana will need housing in 2019. This housing challenge is expected to continue to grow.
The Terebinth Group works with case managers, care service providers and organizations to ensure people who move into these homes are close to family and frequented stores, as well as educational and job opportunities. Houses are renovated to accommodate each individual disability and each person has their own bedroom.
The company currently has more orders for homes than capital to build them, and is working on securing a $5 million loan to help purchase an additional 45 properties. Rosenthal also plans to expand to Ohio.