Board House Villas - San Diego, California

Black Iron Development capitalizes on favorable macroeconomic trends and specializes in identifying emerging and flourishing markets

Historically, Black Iron Development has focused on the multifamily rental housing market in strategic Southern California markets and executed on trends that drive demand for its business model. Particularly, low homeownership rates fueled by increasing and exorbitantly high home prices create sustained upward pressure on monthly rents with severely constrained new housing creation. The insufficient supply of modernized apartments to meet rising demand for high-quality living conditions creates the optimal opportunity for Black Iron Development to modernize older apartment buildings in strategic neighborhoods.

“Rents are definitely spiking and generally rising 5% – 7% year over year in San Diego. There is just a limited supply.”

Stuart Posnock

Garden Communities, Owner