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 Boston
| 34 | $588.7M | $21.0M | $1.5B | 4,062 |
| Projects | HIT Investment | Building America | Total Development | Housing Units |
| Amount | NMTC Allocation | Cost | Created or Preserved | |
| 12.2M | 13,901 | $1.1B | $81.9M | $2.7B |
| Hours of Union | Total Jobs Across | Total Wages | State and Local Tax | Total Economic |
| Construction Work | Industries | and Benefits | Revenue Generated | Impact |
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PROJECT
PROFILE: The HIT provided $20.1 million in financing for the $49.0 million new construction of the 76-unit, all affordable, Cote Village apartments, creating an estimated 415,960 hours of union construction work. |
PROJECT
PROFILE: The HIT provided $48.1 million in financing for the $64.0 million new construction of the 135-unit, all affordable, Old Colony Phase Three A project, creating an estimated 511,510 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 Boston—The Union Way | JUNE 2020 |
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| Horizons Watermark (Building America) | Maverick Landing | 95 Saint Alphonsus Street |
“When union pension capital is invested in construction projects built with 100% union labor and creating affordable housing, we are investing in ourselves while addressing a critical community need.”
—Brian Doherty, Secretary-Treasurer
Building and Construction Trades Council of Metropolitan Boston
HIGHLIGHTS OF BOSTON INVESTMENTS
| Project | Location | HIT
Investment/Building America NMTC Allocation |
TDC | Construction
Work Hours |
| 95 Saint Alphonsus Street Apartments | Boston | $51,940,400 | $66,685,759 | 478,300 |
| Cote Village | Boston | $20,116,000 | $49,049,428 | 415,960 |
| Dudley Municipal Center | Boston | $7,500,000 | $115,853,503 | 1,222,940 |
| Franklin Square Apartments | Boston | $47,330,000 | $75,462,270 | 158,980 |
| Georgetowne Homes One | Boston | $45,456,000 | $123,637,753 | 505,480 |
| Georgetowne Homes Two | Boston | $70,392,000 | $201,565,948 | 805,100 |
| Horizons Watermark | Boston | $8,000,000 | $62,076,217 | 455,850 |
| Old Colony Phase 2A | Boston | $12,435,000 | $22,211,272 | 211,980 |
| Old Colony Phase 2B | Boston | $21,050,000 | $39,236,796 | 377,070 |
| Old Colony Phase Three A | Boston | $48,060,000 | $64,040,972 | 511,510 |
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 |