AFL-CIO Housing Investment Trust
07/23/2021 | Press release | Distributed by Public on 07/23/2021 12:57
Filing by Investment Company (SEC Filing - 497)
| Helping Build Boston-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 Boston
|
36 Projects |
$667.4M HIT Investment Amount |
$21.0M
Building America |
$1.6B
Total Development |
4,232
Housing Units |
|
12.9M
Hours of Union |
14,890
Total Jobs Across |
$1.2B
Total Wages |
$89.7M
State and Local Tax |
$2.9B
Total Economic |
|
PROJECT PROFILE: COTE VILLAGE The HIT provided $20.1 million in financing for the $49.0 million new construction of the 76-unit, all affordable, Cote Village apartments, creating an estimated 415,960 hours of union construction work. |
PROJECT PROFILE: OLD COLONY PHASE THREE C The HIT provided $36.4 million in financing for the $26.5 million new construction of the 55-unit, all affordable, Old Colony Phase Three C project, creating an estimated 198,030 hours of union constuction 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 June 30, 2021. Economic impact data is in 2020 dollars and all other figures are nominal.
| Helping Build Boston-The Union Way | JUNE 2021 |
| Horizons Watermark (Building America) | Maverick Landing | 95 Saint Alphonsus Street |
'When union pension capital is invested in construction projects built with 100% union labor and creating affordable housing, we are investing in ourselves while addressing a critical community need.'
-Brian Doherty, Secretary Treasurer
Building and Construction Trades Council of Metropolitan Boston
HIGHLIGHTS OF BOSTON INVESTMENTS
| Project | Location |
HIT Investment/Building America NMTC Allocation |
TDC |
Construction Work Hours |
| 95 Saint Alphonsus Street Apartments | Boston | $51,940,400 | $66,685,759 | 478,300 |
| Cote Village | Boston | $20,116,000 | $49,049,428 | 415,960 |
| Dudley Municipal Center | Boston | $7,500,000 | $115,853,503 | 1,222,940 |
| Franklin Square Apartments | Boston | $47,330,000 | $75,462,270 | 158,980 |
| Horizons Watermark | Boston | $8,000,000 | $62,076,217 | 455,850 |
| Old Colony Phase Two A | Boston | $12,435,000 | $22,211,272 | 211,980 |
| Old Colony Phase Two B | Boston | $21,050,000 | $39,236,796 | 377,070 |
| Old Colony Phase Three A | Boston | $47,880,000 | $64,040,973 | 511,510 |
| Old Colony Phase Three B | Boston | $42,449,000 | $61,054,733 | 486,320 |
| Old Colony Phase Three C | Boston | $36,430,000 | $26,506,507 | 198,030 |
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 June 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.
| 1227 25th Street, NW | Suite 500 | Washington, DC 20037 | 202.331.8055 |www.aflcio-hit.com |