Since inception, the AFL-CIO Housing Investment Trust and its subsidiary, Building America CDE, Inc., have committed nearly $578 million to 46 projects, listed below, in Massachusetts. These projects have built or preserved over 5,315 housing and healthcare units. The total development cost of these projects is nearly $1.6 billion and represents an estimated 13.7 million hours of union construction work*.
| Project Name | Location | Total Units | Commitment | Total Dev. Cost | Union
Jobs* | |
| 1 | MassHousing Pooled Deals: Hope Gardens | Attleboro | 160 | $2,503,600 | $9,591,445 | 0 |
| 2 | 225 Centre Street** | Boston | 103 | $9,915,000 | $53,160,520 | 261 |
| 3 | Adams Square Assisted Living | Boston | 100 | $8,049,700 | $8,854,670 | 61 |
| 4 | Anna Bissonnette House | Boston | 41 | $500,000 | $5,641,870 | 189 |
| 5 | Back of the Hill | Boston | 125 | $4,000,000 | $27,356,765 | 31 |
| 6 | Bay View Residence | Boston | 67 | $4,048,894 | $4,453,783 | 70 |
| 7 | Blackstone Apartments | Boston | 145 | $42,804,660 | $72,800,962 | 75 |
| 8 | Boston Back Bay Board & Care | Boston | 85 | $8,985,400 | $9,883,940 | 25 |
| 9 | Building 104 | Boston | 46 | $2,500,000 | $2,750,000 | 11 |
| 10 | Building 104 | Boston | - | $1,469,000 | $1,615,900 | 151 |
| 11 | Casa Maria Apartments | Boston | 85 | $2,000,000 | $21,749,710 | 746 |
| 12 | Charlesview Apartments | Boston | 240 | $58,200,000 | $152,000,000 | 47 |
| 13 | Franklin Hill 1B | Boston | 24 | $300,000 | $12,491,787 | 67 |
| 14 | Franklin Park Apartments | Boston | 220 | $25,672,000 | $34,000,000 | 224 |
| 15 | Franklin Square Apartments | Boston | 193 | $47,330,000 | $75,462,270 | 78 |
| 16 | Georgetowne Homes One | Boston | 601 | $70,392,000 | $201,565,948 | 395 |
| 17 | Georgetowne Homes Two | Boston | 366 | $45,456,000 | $123,637,753 | 248 |
| 18 | Lowell Square/West End Place | Boston | 183 | $12,122,000 | $31,737,494 | 207 |
| 19 | Lucerne Gardens | Boston | 48 | $1,050,000 | $1,155,000 | 8 |
| 20 | MassHousing Pooled Deals: Hemenway Apartments | Boston | 183 | $3,750,969 | $14,370,193 | 0 |
| 21 | Maverick Gardens III | Boston | 92 | $2,016,630 | $28,758,581 | 163 |
| 22 | Oak Street Terrace | Boston | 88 | $5,016,300 | $5,517,930 | 38 |
| 23 | Old Colony Phase 1 | Boston | 116 | $26,700,000 | $56,844,708 | 288 |
| 24 | Old Colony Phase 2A | Boston | 45 | $12,435,000 | $22,211,272 | 104 |
| 25 | Old Colony Phase 2B | Boston | 84 | $21,050,000 | $39,236,796 | 185 |
| 26 | Rollins Square | Boston | 37 | $2,900,000 | $2,900,000 | 0 |
| 27 | Rollins Square - Phase I | Boston | 86 | $27,315,245 | $43,900,000 | 277 |
| 28 | South Cove Manor | Boston | 100 | $4,033,700 | $4,437,070 | 42 |
| 29 | The Carruth | Boston | 116 | $5,110,000 | $48,624,416 | 346 |
| 30 | Washington Beech | Boston | 56 | $13,500,000 | $25,517,516 | 129 |
| 31 | University Park at MIT | Cambridge | 135 | $22,500,000 | $34,668,000 | 228 |
| 32 | Cottage Manor Nursing Home | Chelsea | 82 | $5,408,000 | $5,948,800 | 43 |
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AFL-CIO Housing Investment Trust in Massachusetts
Since Inception (1984-2Q 2018)
| Project Name | Location | Total Units | Commitment | Total Dev. Cost | Union
Jobs* | |
| 33 | Gateway Residences | Lynn | 71 | $19,444,000 | $31,130,857 | 128 |
| 34 | MassHousing Pooled Deals: Rolfe House | Lynn | 70 | $930,290 | $3,564,000 | 0 |
| 35 | MassHousing Pooled Deals: Asher’s Path | Mashpee | 56 | $2,440,055 | $9,348,000 | 0 |
| 36 | Regency Tower | New Bedford | 129 | $16,420,000 | $31,195,797 | 205 |
| 37 | MassHousing Pooled Deals: Heritage House | Newburyport | 101 | $1,760,086 | $6,743,000 | 0 |
| 38 | Squantum Gardens | Quincy | 223 | $4,695,000 | $46,533,011 | 263 |
| 39 | Squantum Gardens | Quincy | - | $755,000 | $755,000 | 0 |
| 40 | MassHousing Pooled Deals | Various Cities | 250 | $12,235,000 | $12,235,000 | 0 |
| 41 | MassHousing Pooled Deals | Various Cities | 250 | $15,000,000 | $15,000,000 | 0 |
| 42 | Bet Shalom I | Worcester | 71 | $4,114,417 | $4,571,574 | 0 |
| 43 | Hadley Building Apartment | Worcester | 45 | $1,120,000 | $15,827,868 | 110 |
| TOTAL | 5,318 | $577,947,946 | $1,359,749,206 | 5,443 |
| Building America CDE, Inc. |
Building America CDE, Inc., which is a subsidiary of the AFL-CIO Housing Investment Trust, provided financing for the following projects through the allocation of New Markets Tax Credits. The projects represent an estimated 1,280 union construction jobs.
| Project Name | Location | Commercial
Sq. Ft. |
Housing Units |
Tax
Credit Allocation |
Total
Dev. Cost | |
| 1 | 225 Centre Street** | Boston | 16,000 | 103 | $5,500,000 | $53,160,520 |
| 2 | Dudley Municipal Center | Boston | 215,000 | - | $7,500,000 | $115,853,503 |
| 3 | Mass. High Performance Computing Center | Holyoke | 90,300 | - | $5,600,000 | $79,098,921 |
| 4 | Caring Health Center | Springfield | 45,000 | - | $9,000,000 | $21,561,650 |
| TOTAL | 366,300 | 103 | $27,600,000 | $269,674,594 |
| Total** |
| Jobs | Commercial Sq. Ft. | Housing Units | HIT Commitment | Tax
Credit Allocation |
Total Dev. Cost |
| 6,726 | 366,300 | 5,318 | $577,947,946 | $27,600,000 | $1,576,263,280 |
* Figures provided by Pinnacle Economics are estimates calculated using an IMPLAN input-output model based on HIT and subsidiary Building America project data. Data current as of June 30, 2018. Since inception dates from 1984-2Q 2018.
** The HIT and Building America both invested in 225 Centre Street. This total does not double-count the jobs, units, and TDC of that project.
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.
AFL-CIO Housing Investment Trust in Massachusetts