AFL-CIO Housing Investment Trust

07/23/2021 | Press release | Distributed by Public on 07/23/2021 14:02

Filing by Investment Company (SEC Filing - 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

70 $1.2B $1.9B 18.2M 10,257
Projects HIT Investment
Amount
Total Development
Cost

Hours of Union

Construction Work

Housing Units

Created or Preserved

$3.8B 22,703 $1.5B $150.0M 49%
Total Economic
Impact
Total Jobs Across
Industries
Total Wages
and Benefits

State and Local Tax

Revenue Generated

Percent Affordable

PROJECT PROFILE:

WILDER SQUARE

The HIT provided a total of $22.9 million in funding for the $33.1 million substantial rehabilitation of the 136-unit Wilder Square in St. Paul, creating an estimated 157,100 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 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 Twin Cities-The Union Way JUNE 2021
The Penfield-St. Paul Old Cedar Apartments-Bloomington Bassett Creek 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

Project

Location

HIT Investment

TDC

Construction
Work Hours
Old Cedar Apartments Bloomington $21,744,000 $19,169,071 150,360
Amber Union Falcon Heights $18,273,000 $55,604,667 371,940
Bassett Creek Apartments Minneapolis $33,609,500 $37,616,980 344,690
Gateway Northeast Minneapolis $20,950,000 $38,660,971 273,760
Lake Street Apartments Minneapolis $13,500,000 $27,554,885 221,440
Parker Station Flats Robbinsdale $41,393,900 $53,082,171 508,780
Union Flats St. Paul $30,630,000 $68,476,863 615,780
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 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.comand 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