AFL-CIO Housing Investment Trust

10/19/2021 | Press release | Distributed by Public on 10/19/2021 08:57

Prospectus by Investment Company (Form 497)

Michigan Impacts Since Inception (1984 - 2021)

Since inception, the AFL-CIO Housing Investment Trust has invested $132.8 million, and its subsidiary Building America CDE, Inc. has awarded $23.0 million in tax credits to help finance 15 projects in Michigan with total development investment of $239.2 million. These projects have built or preserved 2,336 housing and healthcare units and created an estimated 2.5 million hours of union construction work.

HIT
Total Affordable Investment/
Project Name Location Units Units NMTCs Total Dev. Cost
1 Windemere Park Apartments Ann Arbor 480 96 $26,374,000 $29,011,400
2 Anglin Extended Care Detroit 180 180 $5,197,400 $5,717,140
3 Detroit Home Repair Program Detroit 4 4 $246,000 $430,490
4 Detroit Home Repair Program 2 Detroit 5 5 $660,114 $694,857
5 Detroit Manufacturing Systems** Detroit - - $8,500,000 $36,928,000
6 Historic New Center Apts. Detroit 104 20 $2,040,000 $2,244,000
7 Lafayette East Detroit 480 480 $13,714,100 $15,237,889
8 Residences @ 150 Bagley Apts. Detroit 148 30 $47,791,901 $72,990,473
9 Sugar Hill** Detroit 68 20 $14,500,000 $35,080,214
10 Arbor Woods Mobile Home Park Farmington Hills 214 214 $3,627,300 $3,990,030
11 Village Green on Lake St. Clair Macomb 222 44 $10,340,900 $11,374,990
12 Wexford Townhouses of Novi Novi 128 26 $8,846,400 $9,731,040
13 American House at Carpenter Pittsfield Township 102 20 $5,641,300 $6,205,430
14 Beechwood Manor Home for the Aged St. Clair Shores 98 98 $3,042,200 $3,346,420
15 Westland Board & Care Westland 103 103 $5,265,000 $6,194,118
TOTAL Chicago 2,336 1,340 $155,786,615 $239,176,491
** Project receiving NMTC Allocation
Residences @ 150 Bagley, Detroit Sugar Hill, Detroit
Job and economic impact figures are estimates calculated using IMPLAN, an input-output model, based on HIT and HIT subsidiary Building America CDE, Inc. project data. Data is current as of September 30, 2021. Economic impact data is in 2020 dollars and all other figures are nominal.
Investors should consider the HIT's investment objectives, risks and expenses carefully before investing. Investors may view the HIT's current prospectus, which contains more complete information, on its website at www.aflcio-hit.com and may obtain a copy from the HIT by calling the Marketing and Investor Relations Department collect at 202-331-8055. Investors should read the current prospectus carefully before investing.
SEPTEMBER 2021