AFL-CIO Housing Investment Trust |
Helping Build Bay Area - The Union Way |
The AFL-CIO Housing Investment Trust builds on over 30 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. Since inception, the HIT has invested $378 million in 17 projects with total development investment of $647 million. These projects have built or preserved over 3,031 housing units and created an estimated 8.6 million hours of union construction work.*
Economic and Fiscal Impacts of |
In 2016 Dollars, Since Inception* |
$1.4B total economic benefits |
$562.6M personal income |
8,650 total jobs across industry segments |
4,290 union construction jobs, 8.6M hours of work |
$60.6M state and local tax revenue generated |
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Casa del Pueblo Apartments: The HIT provided $25.0 million of funding for the $62.6 million substantial rehabilitation of the 165-unit Casa del Pueblo Apartments in San Jose, creating an estimated 255 union construction jobs. |
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Arc Light: The HIT provided $32.5 million in funding for the $47.9 million new construction of the 94-unit Arc Light Apartments in San Francisco, creating an estimated 439 union construction jobs. |
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* Figures provided by Pinnacle Economics are estimates calculated using an IMPLAN input-output model based on HIT project data. Data current as of December 31, 2017. Since inception dates from 1984-2017.
Projects in the Bay Area |
Project | Location | Units | HIT Investment | TDC | Union Jobs |
Cherry Blossom Inn I | San Leandro | 70 | $4,463,700 | $4,910,070 | 41 |
Country Club Villa | San Jose | 313 | $17,403,200 | $19,143,520 | 160 |
Cherry Blossom Inn II | San Leandro | 70 | $382,000 | $420,200 | 3 |
Glenwood Inn | Menlo Park | 138 | $12,195,000 | $13,414,500 | 103 |
Water Edge | Alameda | 119 | $5,967,100 | $6,563,810 | 50 |
Rincon de los Esteros | San Jose | 246 | $9,963,000 | $10,959,300 | 72 |
Putnam-Tompkins/Market Heights | San Francisco | 46 | $2,340,000 | $2,574,000 | 21 |
Almaden Lake Village | San Jose | 250 | $22,250,000 | $24,722,222 | 154 |
One Embarcadero South | San Francisco | 233 | $42,000,000 | $46,666,667 | 359 |
Heritage Homes | San Francisco | 148 | $7,400,000 | $27,999,667 | 149 |
Alemany Plaza (Ocean View Terrace) | San Francisco | 400 | $60,000,000 | $96,332,885 | 652 |
Bernal Gateway | San Francisco | 55 | $5,406,536 | $14,300,000 | 74 |
Arc Light Apartments | San Francisco | 94 | $32,462,900 | $47,948,451 | 439 |
Potrero Launch Apartments | San Francisco | 196 | $2,585,000 | $80,400,000 | 575 |
Rincon Green @ 333 Harrison Apartments | San Francisco | 326 | $70,001,400 | $105,000,000 | 728 |
The Civic (101 Polk) | San Francisco | 162 | $58,084,400 | $82,847,679 | 451 |
Casa del Pueblo Apartments | San Jose | 165 | $24,982,000 | $62,613,111 | 255 |
TOTAL | 3,031 | $377,886,236 | $646,816,082 | 4,286 |
Investors should consider the HIT’s investment objectives, risks and expenses carefully before investing. A prospectus containing more complete information may be obtained from the HIT by calling the Marketing and Investor Relations Department collect at 202-331-8055 or by viewing the HIT’s website at www.aflcio-hit.com. The prospectus should be read carefully before investing. | ||
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JANUARY 2018 |
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