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Helping Build St. Louis—The Union Way |
The AFL-CIO Housing Investment Trust builds on 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 St. Louis
In 2018 Dollars, Since Inception*
30 |
$575.2M |
$946.4M |
$13.5M |
5,067 |
Projects |
HIT
Investment |
Total
Development |
Hours
of Union |
Housing
Units |
$2.1B |
14,889 |
$919.7M |
$71.7M |
34% |
Total
Economic |
Total
Jobs Across |
Total
Wages |
State
and Local Tax |
Percent Affordable |
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PROJECT PROFILE: FOUNTAINS OF ELLISVILLE The HIT provided $17.5 million in financing for the 229-unit expansion of the Fountains of Ellisville, creating an estimated 174,840 hours of union construction work. |
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PROJECT PROFILE: COVENANT PLACE II The HIT provided $6.7 million for the $24.5 million new construction of the 102-unit second phase of this senior development in St. Louis, creating an estimated 234,920 hours of union construction work. |
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*Job and economic impact figures are estimates calculated using IMPLAN, an input-output model, based on HIT and subsidiary Building America project data. The data is current as of September 30, 2019. Economic impact data is in 2018 dollars and all other figures are nominal.
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Helping Build St. Louis—The Union Way |
SEPTEMBER 2019 |
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The Heights at Manhassett–Richmond Heights |
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Holy Infant & St. Joseph–Shrewsbury |
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The Laurel–St. Louis |
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“We appreciate the HIT’s ongoing support of union construction for multifamily and senior housing projects in the St. Louis metro area and recognize the benefits provided to the workers and the community.”
—John Stiffler, Executive Secretary
Treasurer, St. Louis Building and Construction Trades Council
RECENT ST. LOUIS INVESTMENTS
| Project | Location | HIT Investment | TDC | Construction Work Hours | |||||||
| The Gatesworth | St. Louis | $34,195,000 | $36,208,000 | 412,570 | |||||||
| Council Tower Senior Apts. | St. Louis | $15,862,000 | $29,735,645 | 457,950 | |||||||
| Park Pacific Apartments | St. Louis | $63,131,600 | $98,318,292 | 1,514,830 | |||||||
| The Laurel | St. Louis | $44,952,400 | $175,000,000 | 2,696,300 | |||||||
| Parkway Lakeside Apartments | O'Fallon | $26,094,000 | $28,160,111 | 295,180 | |||||||
| Holy Infant & St. Joseph Apartments | Shrewsbury | $6,600,000 | $13,000,000 | 182,990 | |||||||
| St. John Neumann Apts. | Jennings | $5,066,000 | $7,983,263 | 79,730 | |||||||
| The Heights of Manhassett | Richmond Heights | $43,300,000 | $55,801,788 | 547,750 | |||||||
| The Fountains of Ellisville | Ellisville | $17,517,500 | $18,213,929 | 174,840 | |||||||
| Covenant Place II | St. Louis | $6,687,100 | $24,471,938 | 234,920 | |||||||
*Job and economic impact figures are estimates calculated using IMPLAN, an input-output model, based on HIT and subsidiary Building America project data. The data is current as of September 30, 2019. Economic impact data is in 2018 dollars and all other figures are nominal.
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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2401 Pennsylvania Ave., NW, Suite 200 | Washington, DC 20037 | 202.331.8055 | www.aflcio-hit.com |
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