We make quality housing affordable.
The Workforce & Affordable Housing strategy aims to create and preserve affordable housing communities for America’s workforce. With an estimated 12 million households spending over 50% of annual income on housing and a 9% decline in Class B/C multifamily units as a percentage of total stock since 2000, and there is a dire need for affordable housing. Demand for low-income multifamily housing grows by an estimated 150,000 units per year, yet regulatory and construction cost burdens motivate developers to build mostly luxury housing, with obsolescence further shrinking supply. Bridge brings a differentiated and socially responsible approach to investing in workforce & affordable rental housing, focusing not just on preservation but also on the creation of innovative and valuable social programs that drive tenant satisfaction. Leveraging our deep in-house operating platforms to reposition assets with specialized community and life-enhancing services, we provide more than just “four walls and a roof” to thousands of families across the US.
Bridge Workforce and Affordable Housing satisfies Community Reinvestment Act (CRA) requirements by investing in multifamily communities where a minimum of 51%+ of the units are occupied by families that earn a maximum of 80% of the area’s median income.
Executing the largest, most scalable private sector approach to the affordable housing crisis, without any reliance on government subsidies, Bridge Workforce & Affordable Housing invests in multifamily communities wherein a minimum of 51%+ of the units are occupied by families that earn a maximum of 80% of the area’s median income (satisfying Community Reinvestment Act requirements). As a market leader in community revitalization, Bridge turns older housing projects into vibrant, thriving communities with modern, functional amenities such as educational services, ESL, career counseling, after-school programming, safe and engaging play areas for children, onsite health screenings and exercise facilities and the Bridge Credit Plus program to empower residents and boost economic and social mobility. These life-enriching programs are proudly subsidized by Bridge.
Bridge Workforce & Affordable Housing strategy focuses on submarkets across the U.S. with accelerated population and job growth in the Bridge footprint and where quality affordable housing is in short and diminishing supply. Driving significant operational and renovation cost savings with active asset management and the scale of Bridge’s proven best-in-class property management platforms, we aim to preserve affordable housing stock while providing attractive risk-adjusted market returns and stable, secure cash flows. Bridge Workforce & Affordable Housing is the recipient of a first-of-its-kind financing facility with Freddie Mac dedicated to workforce & affordable housing, with preferential rates that get passed onto residents in the form of lower rents and to investors in the form of enhanced returns.
Since 1991, senior team members have developed, acquired, and managed 198 multifamily properties.
Our senior team members have completed $5.1 billion of multifamily transactions with a specific focus on in-depth capital improvements, operational efficiencies and community creation. Bridge is committed to monitoring the affordability, social and environmental impacts of our strategy and, in addition to our CRA compliance guidelines, have adopted industry-standard IRIS metrics to measure and communicate our impact to investors.