Iron Bridge has built and currently operates five sustainably designed communities on the island of Guam, and has expanded to Saipan and has explored other markets and territories.
In 2005, Iron Bridge developed the first affordable housing project in Guam using Low Income Housing Tax Credits. In this first project, Iron Bridge both owns and operates affordable housing units that were developed as single-family homes. This original project was expanded in 2006 and 2007 with subsequent adjacent projects, so that Iron Bridge now has 302 homes that are owned and managed in Dededo, Guam, which is a popular northern suburb. The Dededo locations have two community centers and a playground and basketball court where there are hosted, free after-school programs and other social programs for residents.
In 2010 Iron Bridge began construction on Ironwood Heights, a two phase, 132-unit project on Ypao Road, in Tamuning, Guam. Ironwood Heights is Iron Bridge’s first true infill multi-family product, which includes flats on the first floor and townhouse units above with rooftop decks and water and long-range views. Ironwood Heights features a community center and playground and offers free after-school care like the Dededo properties
Iron Bridge Capital continues to receive high marks and rave reviews from tenants and government officials alike.
In, 2014, Iron Bridge broke ground on Ironwood Saipan, an 80-unit affordable housing project centrally located on Middle Road, on the island of Saipan, 190 miles north of Guam. Utility costs in Saipan are about 4X what they are in the Southeast United States and are the biggest worry of most working families in terms of their housing day-to-day costs. By introducing solar panels, LED lighting, UV rated glass windows, solar hot water heaters and steel frame construction with spray foam insulation, this development will be the most energy-efficient rental units ever constructed in the Marianas islands. Despite 5 named storms that affected Saipan in from late 2014 until the end of 2015, culminating with a direct hit by Typhoon Soudelor, Iron Bridge was able to complete the project in 13 months, and adhere to its original schedule. At its peak, the construction project employed over 300 full-time workers on site and worked Saturdays to accomplish this goal.
Iron Bridge has completed all of its projects on time and on budget, and continues to provide exceptional value to its residents and noteworthy contributions to an improved quality of life on the island.
Legacy Impact on the Community:
Along with providing safe and modern housing for working families on Guam, Iron Bridge, through its IronKids program, provides free afterschool programs, summer camps and other communities services for its residents at the community centers at each project. At Dededo, the onsite Girl Scout troop won a national award. The kids in its onsite karate class earned the right to compete in Japan. All Guam communities feature free after-school programs for school-aged children, parents’ night out events, vocational training, financial advice programs, community watch programs, and free computer labs and computer training. Iron Bridge developed these communities in partnership with a local non-profit, Micronesia Community Development Corporation, that provides many of social services and amenities for residents with funding from Iron Bridge.