Austin P. Carmony headshot

Austin P. Carmony

Vice President of Development

My goal at Kendall Property Group is to build the development pipeline and add value and vision to each project through innovative development and financing strategies.


Austin is responsible for managing and facilitating the development process from land acquisition through the stabilization and asset management of a project. His responsibilities include: concept feasibility projections, land acquisition, coordinating all phases of development, procuring entitlements, working closely with the construction team, preparing and analyzing budgets and financial projections, procuring debt and equity capital, and working with property management to ensure the long-term success of a project.

Professional Experience:

Austin joined Kendall Property Group in the fall of 2020 to help build the development capacity of the company. He graduated from Indiana University in 2007 and was with Flaherty & Collins Properties until fall 2020. Austin has been involved in the development of over 2,500 units of affordable, mixed income and market rate multi-family communities. Austin has worked extensively to raise millions in private and public debt, equity, grant and incentive capital solutions. He has experience in government programs such as Low-Income Housing Tax Credits, HUD 221 (d) 4 and HUD 223 (f), TIF financing, Tax Abatement, Economic Development Tax Credits, HOME, CDBG and other State sponsored incentive programs.

  • Bachelor’s degree in Business/Finance/Accounting 
  • Kelley School of Business – 2007
  • Indiana University – Bloomington, Indiana
  • During his free time, Austin enjoys skiing, fishing and playing golf. He enjoys spending time with friends and family. 
Accreditation / Organizations
  • Alpha Tau Omega – Alumni Member 
  • Columbia Club – Member 
Jason Madden Headshot

Jason Madden

Vice President of Construction

Since graduating from Purdue University in 1996 with degrees in Construction and Civil Engineering, Jason has built projects of all sizes and complexity.

He spent the first twelve years of his career with a mid-size general contractor where he had the opportunity to manage a wide range of products including commercial, multi-family, institutional and medical.  As a result of his attention to detail and high performance level, he rose through the ranks to Senior Project Manager supervising other managers. 

As Vice President of Construction for Kendall Construction, Jason oversees all aspects of the construction division including quality control, safety program, operations, estimating, design build programming, contract management, and client relations.  From conceptual budget to occupancy Jason is involved to maintain continuity of the construction process, ensuring that the project is built with quality, on schedule and under budget.

Jason is very good at working with clients to produce a facility that fits their business needs and budget.  He is very adept at working with the design professionals to find affordable solutions that fit the client’s requirements.

Max R. Kendall Headshot

Max R. Kendall


Max R. Kendall, Chairman, has 50 years of investment real estate experience. A 1968 graduate of Indiana State University, Max has a Bachelor of Science degree in marketing. After spending his first year out of college with Standard Oil in Chicago, he moved to Indianapolis and began working for Merchants National Bank.

Six of his eight years at Merchants were in the mortgage lending area. At the age of 28, Max was made vice president in charge of the Commercial Mortgage Lending division.

In 1979, Max co-founded Mortgage Company of Indiana, Inc., a commercial mortgage banking company. Mortgage Company of Indiana represented several insurance companies, including Nationwide, Capital Holding, Hartford and Sun Life. In 1984, the corporation was sold to Merchants National Corporation. As a part of the transaction, Max left to pursue real estate development and construction.

Prior to selling the mortgage company, Max became involved in forming limited partnerships and investing in existing properties. Since leaving the lending profession, he has developed, purchased, managed and disposed of properties for himself and others.  Although he has developed and built several property types, including single-family subdivisions, self-storage, medical office, and numerous build-to-suits, Max has continuously developed and built apartment properties for himself and others.  Projects have ranged in size from 90 to 300 units and in type from elderly to luxury.

J.R. Kendall Headshot

J.R. Kendall


J.R. grew up on the Northwest side of Indianapolis and graduated from Brebeuf in 1994.  He attended DePauw on an academic scholarship for 5 semesters and then transferred to Colorado State University.  J.R. graduated from CSU in 1999 and returned to Indianapolis.

In 2002, he headed back out West to Salem, Oregon where he attended Willamette University Law School.  After graduating from law school in 2005 and passing the Indiana Bar Exam, J.R. planned to work as a real estate attorney with the goal of entering the development business in the future.  When the opportunity came in an unexpected offer from Max to join Kendall Property Group, J.R. accepted. 

J.R. grew up in the construction business and had the privilege to experience everything from picking up trash on jobsites as a teenager, to working as an assistant superintendent on hotel and apartment projects during summer breaks in college and eventually running a project as a superintendent after graduating from college. 

J.R. spent the first few years of his development career learning the financial aspects of the business from Max and through CCIM.   

J.R. and Max developed both commercial and multifamily projects until 2014 when they decided to focus solely on multifamily projects. 

Since joining Kendall Property Group, J.R. developed over 2,000 units.  Today, as President of Kendall Property Group, his focus is on building a portfolio of multifamily projects throughout the Midwest.  

Today J.R. lives with his wife, Jen, and three daughters in Zionsville.