$14 Million Awarded to Ironbridge Residents
20 homeowners in the Ironbridge subdivision near Glenwood Springs, Colorado, are waiting to see if a judge will decide to uphold the ruling of the jury, awarding them nearly $7 million in damages due to sinking homes in the housing development. The jury awarded over $6.7 million to the 20 homeowners, assigning full responsibility to the developers, Lehman Brothers subsidiary, LB Rose Ranch LLC.
The judgment came after an earlier arbitration where nearly $7.36 million was awarded to homeowners in a finding involving the homebuilders Ironbridge Homes LLC and Hansen Construction. The homes were built on evaporite, a soil known to cause sinkholes and settling issues in western Colorado.
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