AFL-CIO Housing Investment Trust

07/23/2021 | Press release | Distributed by Public on 07/23/2021 12:55

Filing by Investment Company (SEC Filing - 497)

Helping Build The Bay Area-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 HIT-Financed Projectsin the Bay Area

21 $467.2M $866.0M 10.2M 3,520
Projects HIT Investment
Amount

Total Development

Cost

Hours of Union

Construction Work

Housing Units Created or Preserved
$1.9B 11,127 $821.5M $89.3M 35%
Total Economic Impact Total Jobs Across
Industries

Total Wages

and Benefits

State and Local Tax
Revenue Generated
Percent Affordable

PROJECT PROFILE:

53 COLTON STREET

The HIT provided $19.1 million in financing for the $52.5 million new construction of the 96-unit, all affordable, 53 Colton Street apartments, creating an estimated 368,640 hours of union construction work.

PROJECT PROFILE:

VENTANA RESIDENCES

The HIT provided $52.0 million in funding for the $121.9 million new construction of the 193-unit (25% affordable) Ventana Residences in San Francisco, creating an estimated 805,240 hours of union construction work.

continued

Job and economic impact flgures 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 June 30, 2021. Economic impact data is in 2020 dollars and all other flgures are nominal.

Helping Build the Bay Area -The Union Way JUNE 2021
Rincon Green @333 Harrison-San Francisco Rincon de los Esteros-San Jose Potrero Launch-San Francisco

'The Bay Area faces an affordable housing crisis. The HIT's mission of building affordable housing using union labor means addressing this social need while creating quality jobs, ensuring working families can afford to live in our community.'

-Rudy Gonzalez

Executive Director, San Francisco Labor Council

HIGHLIGHTS OF BAY AREA INVESTMENTS

Project

Location

HIT Investment

TDC

Construction
Work Hours
53 Colton Street San Francisco $19,058,892 $52,515,971 368,640
333 Harrison Apartments San Francisco $70,001,400 $105,000,000 1,464,530
Alemany Plaza (Ocean View Terrace) San Francisco $60,000,000 $96,332,885 1,310,890
Arc Light Apartments San Francisco $32,462,900 $47,948,451 882,410
Bernal Gateway San Francisco $5,406,536 $14,300,000 149,690
Heritage Homes San Francisco $7,400,000 $27,999,667 299,500
One Embarcadero South San Francisco $42,000,000 $46,666,667 721,350
Potrero Launch Apartments San Francisco $2,585,000 $80,400,000 1,156,820
Ventana Residences San Francisco $52,000,000 $121,934,463 805,240
Casa del Pueblo Apartments San Jose $24,982,000 $62,613,111 513,280

Job and economic impact flgures 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 June 30, 2021. Economic impact data is in 2020 dollars and all other flgures 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