AFL-CIO Housing Investment Trust

01/20/2022 | Press release | Distributed by Public on 01/20/2022 07:56

Prospectus by Investment Company (Form 497)

Helping Build Twin Cities-The Union Way

The AFL-CIO Housing Investment Trust builds on over 35 years of experience investing union capital responsibly to deliver competitive returns to its participants while generating union construction jobs, affordable housing, and economic and fiscal impacts that benefit the communities where union members live and work.

Economic and Fiscal Impacts of the HIT-Financed Projects in the Twin Cities

73

Projects

$1.3B

HIT Investment
Amount

$2.0B

Total Development

Cost

19.1M

Hours of Union
Construction Work

10,678

Housing Units
Created or Preserved

$4.0B 24,021 $1.6B $160.2M 51%
Total Economic Total Jobs Across Total Wages State and Local Tax Percent Affordable
Impact Industries and Benefits Revenue Generated

PROJECT PROFILE:

CREST APARTMENTS

The HIT provided a total of $25.0 million in funding for the $40.1 million substantial rehabilitation of the 171-unit Crest Apartments in Brooklyn Center, creating an estimated 192,720 hours of union construction work.

PROJECT PROFILE:

AMBER UNION

The HIT provided $18.3 million in funding for the $55.6 million substantial rehabilitation of the 125-unit Amber Union apartments in Falcon Heights, creating an estimated 371,940 hours of union construction work.

continued

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 December 31, 2021. Economic impact data is in 2020 dollars and all other figures are nominal.

Helping Build Twin Cities-The Union Way DECEMBER 2021

The Penfield-St. Paul

Old Cedar Apartments-Bloomington

Peregrine Apartments-Minneapolis

"These HIT-funded projects really help us provide multifamily housing. We have been faced with an affordable housing crisis just like many places, so the more we can build the better it will be for working families. And it seems the HIT is always there to help us out."

-Dan McConnell, Business Manager

Minneapolis Building and Construction Trades Council

HIGHLIGHTS OF TWIN CITIES INVESTMENTS

Construction
Project Location HIT Investment TDC Work Hours
The American Cooperative of Anoka Anoka $20,931,200 $34,728,425 292,850
Old Cedar Apartments Bloomington $21,744,000 $19,169,071 150,360
The Crest Apartments Brooklyn Center $25,014,942 $40,052,670 192,720
Amber Union Falcon Heights $18,273,000 $55,604,667 371,940
Gateway Northeast Minneapolis $20,950,000 $38,660,971 273,760
Peregrine Apartments Minneapolis $55,587,970 $55,711,262 363,130
Parker Station Flats Robbinsdale $41,393,900 $53,082,171 508,780
Morrow (University and Fairview) St. Paul $79,100,713 $68,486,408 476,130
Wilder Square St. Paul $22,909,000 $33,108,000 157,100
Sundance at Settler's Ridge Woodbury $53,545,900 $69,580,136 544,190

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 December 31, 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.

1227 25th Street, NW | Suite 500 | Washington, DC 20037 | 202.331.8055 | www.aflcio-hit.com