497 1 aflcio_497.htm AFL-CIO HOUSING INVESTMENT TRUST 497 aflcio_497.htm
   
 
And we’re not stopping here
 
 
 
 
 
 
AFL-CIO Housing Investment Trust
 
M I D -Y E A R  2 0 1 1
 
 
 

Union Construction Jobs:
 
   
 
 
 
 
 
“HIT’s doing a great job – creating 10,000 new jobs with a good return on investment. They’ve targeted 5,000 more.”
 
                         —James Boland, President, International Union of
                                                                                                                      Bricklayers and Allied Craftworkers

America’s working men and women have taken a devastating blow from the Great Recession and its aftermath. Recognizing these harsh realities, AFL- CIO President Rich Trumka and Building Trades President Mark Ayers, along with other labor leaders, called on the AFL-CIO Housing Investment Trust to do all that it could do to create union construction jobs. The HIT’s response was the Construction Jobs Initiative – a pledge to create 10,000 union construction jobs in two years.
 
This spring, the HIT achieved that goal – creating more than 10,000 union construction jobs in less than two years. But the HIT is not stopping at 10,000 jobs. With support from its investors, the HIT has raised its goal from 10,000 to 15,000 jobs.
 
Moving quickly toward its new goal, the HIT at mid-year 2011 has surpassed 11,000 union jobs. HIT investments of over $960 million have launched nearly $2 billion of development under the Construction Jobs Initiative, providing homes for more than 12,700 families and individuals. The HIT has been the union construction worker’s partner for decades. With your support, that partnership remains strong.
 
“HIT has definitely provided the jobs at this crucial time to put our members back to work.”
 
                          —Jeff Aboussie, Executive Secretary-Treasurer, 
                                                                                                 St. Louis Building and Construction Trades Council
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 
 
We Need Them Now
 
Union pension plans can benefit from the HIT’s competitive returns, which are its primary goal, while also supporting the HIT’s commitment to union job creation. With construction unemployment nearly twice as high as the national unemployment rate, it is urgent to act on this problem now. We urge all who are stewards of union pension capital to join us in this critical effort.

 
Construction Jobs Initiative Projects
          
             
 
Project Name
Location
Jobs
Units
HIT Investment
Total Development Cost
  
1
              
Paul Stewart I & II
Chicago, IL
386
420
$2,500,000
$59,000,000
  
2
Victory Centre at S. Chicago
Chicago, IL
98
112
$10,685,000
$14,962,491
  
3
Squantum Gardens
Quincy, MA
290
223
$5,450,000
$47,288,011
  
4
Solhem House
Minneapolis, MN
84
60
$10,700,000
$12,988,106
  
5
Inver Glen Senior Housing
Inver Glen Heights, MN
113
103
$15,084,000
$17,461,869
  
6
The Douglass
New York, NY
185
70
$9,500,000
$31,200,759
  
7
Ellipse on Excelsior
St. Louis Park, MN
213
132
$26,122,000
$33,244,543
  
8
Applewood Pointe Coop
Bloomington, MN
130
101
$17,597,900
$20,280,641
  
9
Villas at Crystal Lake
Swansea, IL
161
216
$23,736,300
$26,373,746
  
10
The Moderne
Milwaukee, WI
378
203
$42,357,800
$56,700,000
  
11
The Dempsey
New York, NY
135
80
$15,000,000
$26,363,400
  
12
Park Pacific Apartments
St. Louis, MO
656
230
$63,131,600
$98,318,292
  
13
The Laurel
St. Louis, MO
1,333
205
$44,952,400
$175,000,000
  
14
Regency Tower
New Bedford, MA
176
129
$16,420,000
$31,195,797
  
15
Franklin Park Apartments
Boston, MA
192
220
$25,672,000
$34,000,000
  
16
Arc Light Apartments
San Francisco, CA
276
94
$32,462,900
$47,948,451
  
17
Elizabeth Seton Pediatric Center
Yonkers, NY
804
137
$100,000,000
$115,557,020
  
18
NYCHA Bonds
New York, NY
177
3,726
$21,305,000
$103,094,580
  
19
Parkway Lakeside Apartments
O'Fallon, IL
188
232
$26,094,000
$28,160,111
  
20
CUNY Graduate Housing
New York, NY
166
77
$9,832,000
$28,766,797
  
21
Flo Co Fusion
Minneapolis, MN
100
84
$13,543,000
$16,026,159
  
22
Old Colony
Boston, MA
321
116
$26,700,000
$56,844,708
  
23
Washington Beech
Boston, MA
144
56
$13,500,000
$25,517,516
  
24
Potrero Launch Apartments
San Francisco, CA
463
196
$2,585,000
$80,400,000
  
25
Council Tower Senior Apartments
St. Louis, MO
214
227
$15,862,000
$29,735,645
  
26
Coquille Valley Hospital
Coquille, OR
224
16
$22,000,000
$29,705,495
  
27
Riverside Plaza
Minneapolis, MN
636
1,303
$49,950,000
$123,267,007
  
28
Lawndale Terrace & Plaza Court
Chicago, IL
92
198
$11,940,000
$18,748,367
  
29
Randolph Tower City Apartments
Chicago, IL
687
310
$20,000,000
$148,233,500
  
30
Applewood Pointe @ Roseville
Roseville, MN
70
48
$4,700,000
$11,241,637
  
31
Liberty Meadow Estates II
Joliet, IL
54
42
$2,100,000
$8,126,827
  
32
333 Harrison Apartments
San Francisco, CA
603
326
$70,001,400
$105,000,000
  
33
    Charlesview Apartments          Boston, MA
858
240
$58,200,000
$152,000,000
  
34
Penn South Apartments
New York, NY
610
2,820
$134,000,000
$151,000,000
  
 
Total To Date
  
11,217
12,752
$963,684,300
$1,963,751,475
  

“We’re looking forward to actually having some residential work this year, thanks to you.”

 
—Mike Theriault, Secretary-Treasurer, San Francisco
                   Building and Construction Trades Council

 
 
 

Invest in the HIT - Create Union Jobs
 
The HIT is an open-end investment fund registered with the Securities and Exchange Commission. Units in the HIT are sold without any sales charge (load) or commissions. HIT units are purchased on the last business day of each month in order to be invested in the HIT that month. The purchase price will be equal to the units’ net asset value as of the close of business of the major bond markets in New York on the last business day of each month. We request that the HIT be notified on or before the day funds are to be transferred so that we can coordinate their receipt with your bank. Funds received prior to the last day of the month are invested in short-term securities until the last day of the month, at which time all earnings will be included in the investment in the HIT or, if the participant chooses, returned.
 
We encourage you to contact one of the marketing/investor relations staff below should you have any questions about investing in the HIT or increasing your HIT investment.

     
Lesyllee White, Esq.
Paul Sommers
Emily Johnstone
Director of Marketing
Regional Marketing Director
Regional Marketing Director
National & Mid-Atlantic Accounts
Midwest Accounts
Western Accounts
(202) 467-2546
(937) 604-9681
(415) 640-5204
lwhite@aflcio-hit.com          psommers@aflcio-hit.com             ejohnstone@aflcio-hit.com
 
    
     
Paul Barrett
Debbie Cohen
Julissa Servello
Regional Marketing Director
Chief Development Officer
Marketing Coordinator
New England Accounts
(202) 467-2591
(202) 467-2544
(508) 397-9750
         dcohen@aflcio-hit.com
            jservello@aflcio-hit.com
pbarrett@aflcio-hit.com
    
     


Investors should consider the HIT’s investment objectives, risks, and charges and expenses carefully before investing. This and other information is contained in the HIT’s prospectus. To obtain a prospectus, call the HIT at 202-331-8055 or visit www.aflcio-hit.com. The prospectus should be read carefully before investing.
 
AFL-CIO HOUSING INVESTMENT TRUST
2401 Pennsylvania Avenue, NW, Suite 200
Washington, DC 20037
(202) 331-8055
www.aflcio-hit.com

“We have three projects in Boston that, in this economy, are really very important to us, because we really need the work.”
          —Kevin L. Cotter, Secretary-Treasurer Plumbers Local 12, Boston