AFL-CIO Housing Investment Trust
04/22/2021 | Press release | Distributed by Public on 04/22/2021 14:05
Filing by Investment Company (SEC Filing - 497)
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 St. Louis
|
30 Projects |
$575.2M Amount |
$946.4M Cost |
13.5M Construction Work |
5,067 Housing Units Created or Preserved |
|
$2.2B Total Economic Impact |
14,889 Total Jobs Across Industries |
$949.1M Total Wages and Benefits |
$74.0M State and Local Tax Revenue Generated |
34% Percent Affordable |
|
PROJECT PROFILE: FOUNTAINS OF ELLISVILLE The HIT provided $17.5 million in financing for the 229-unit expansion of the Fountains of Ellisville, creating an estimated 174,840 hours of union construction work. |
PROJECT PROFILE: THE GATESWORTH The HIT provided $34.2 million in financing for the 38-unit second phase of the Gatesworth senior development in St. Louis, creating an estimated 412,570 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 March 31, 2021. Economic impact data is in 2020 dollars and all other figures are nominal.
| Helping Build St. Louis-The Union Way | MARCH 2021 |
| The Heights at Manhassett-Richmond Heights | St. John Neumann Apartments-Jennings | The Laurel-St. Louis |
'We appreciate the HIT's ongoing support of union construction for multifamily and senior housing projects in the St. Louis metro area and recognize the benefits provided to the workers and the community.'
-John Stiff ler, Executive Secretary-Treasurer
St. Louis Building and Construction Trades Council
HIGHLIGHTS OF ST. LOUIS AREA INVESTMENTS
| Project | Location | HIT Investment | TDC |
Construction Work Hours |
|
The Fountains of Ellisville |
Ellisville |
$17,517,500 |
$18,213,929 |
174,840 |
|
St. John Neumann Apts. |
Jennings |
$5,066,000 |
$7,983,263 |
79,730 |
|
Parkway Lakeside Apartments |
O'Fallon |
$26,094,000 |
$28,160,111 |
295,180 |
| The Heights of Manhassett |
Richmond Heights |
$43,300,000 |
$55,801,788 |
547,750 |
|
Holy Infant & St. Joseph Apartments |
Shrewsbury |
$6,600,000 |
$13,000,000 |
182,990 |
|
Council Tower Senior Apts. |
St. Louis |
$15,862,000 |
$29,735,645 |
457,950 |
| Covenant Place II |
St. Louis |
$6,687,100 |
$24,471,938 |
234,920 |
| The Gatesworth |
St. Louis |
$34,195,000 |
$36,208,000 |
412,570 |
| The Laurel |
St. Louis |
$44,952,400 |
$175,000,000 |
2,696,300 |
|
Pacific Park Apartments |
St. Louis |
$63,131,600 |
$98,318,292 |
1,514,830 |
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 March 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 |