| Helping Build Bay Area—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 Bay Area
| 19 | $396.1M | $691.6M | 9.1M | 3,231 |
| Projects | HIT Investment Amount |
Total Development Cost |
Hours of Union Construction Work |
Housing Units Created or Preserved |
| $1.6B | 9,172 | $637.4M | $70.6M | 34% |
| Total Economic Impact |
Total Jobs Across Industries |
Total Wages and Benefits |
State and Local Tax Revenue Generated |
Percent Affordable |
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PROJECT PROFILE: 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 513,280 hours of union construction work. |
PROJECT PROFILE: 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 882,410 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 HIT subsidiary Building America CDE, Inc. project data. Data is current as of June 30, 2020. Economic impact data is in 2019 dollars and all other figures are nominal.
| Helping Build Bay Area —The Union Way | JUNE 2020 |
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| Rincon Green @333 Harrison–San Francisco | Rincon de los Esteros–San Jose | Potrero Launch–San Francisco | ||
“ The Bay Area faces an affordable housing crisis. The HIT’s mission of building affordable housing using union labor means addressing this social need while creating quality jobs, ensuring working families can afford to live in our community.”
—Tim Paulson
Executive Director, San Francisco Labor Council
HIGHLIGHTS OF BAY AREA INVESTMENTS
Project |
Location |
HIT Investment |
TDC |
Construction Work Hours | |||||||
| 101 Polk (The Civic) | San Francisco | $58,084,400 | $82,847,679 | 906,890 | |||||||
| 333 Harrison Apartments | San Francisco | $70,001,400 | $105,000,000 | 1,464,530 | |||||||
| Alemany Plaza (Ocean View Terrace) | San Francisco | $60,000,000 | $96,332,885 | 1,310,890 | |||||||
| Arc Light Apartments | San Francisco | $32,462,900 | $47,948,451 | 882,410 | |||||||
| Bernal Gateway | San Francisco | $5,406,536 | $14,300,000 | 149,690 | |||||||
| Casa del Pueblo Apartments | San Jose | $24,982,000 | $62,613,111 | 513,280 | |||||||
| Gabilan Plaza Apartments Phase I & II | Salinas | $16,820,900 | $43,348,674 | 454,450 | |||||||
| Heritage Homes | San Francisco | $7,400,000 | $27,999,667 | 299,500 | |||||||
| One Embarcadero South | San Francisco | $42,000,000 | $46,666,667 | 721,350 | |||||||
| Potrero Launch Apartments | San Francisco | $2,585,000 | $80,400,000 | 1,156,820 | |||||||
Job and economic impact figures 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, 2020. Economic impact data is in 2019 dollars and all other figures 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.com and 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.
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2401 Pennsylvania Ave., NW, Suite 200 | Washington, DC 20037 | 202.331.8055 | www.aflcio-hit.com New address effective 8/1: 1227 25th Street, NW | Suite 500 | Washington, DC 20037 |
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