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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 Minnesota
| 96 | $1.5B | $2.2B | 21.8M | 12,726 |
| Projects | HIT Investment | Total Development | Hours of Union | Housing Units |
| Amount | Cost | Construction Work | Created or Preserved | |
| $4.5B | 26,820 | $1.7B | $172.3M | 45% |
| Total Economic | Total Jobs Across | Total Wages | State and Local Tax | Percent Affordable |
| Impact | Industries | and Benefits | Revenue Generated |
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| PROJECT PROFILE: | PROJECT PROFILE: |
| SUNDANCE AT SETTLER’S RIDGE | ZVAGO COOPERATIVE AT STILLWATER |
| The HIT provided $53.5 million of funding for the $69.6 million new construction of the 218-unit Sundance at Settler’s Ridge development in Woodbury, creating an estimated 544,190 hours of union construction work. | The HIT provided $15.8 million in funding for the $22.4 million new construction of the 48-unit Zvago Cooperative at Stillwater apartments, creating an estimated 192,200 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 December 31, 2020. Economic impact data is in 2019 dollars and all other figures are nominal.
| Helping Build Minnesota —The Union Way | DECEMBER 2020 |
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| The Penfield—St. Paul | Zvago Cooperative at Lake Superior—Duluth | Bassett Creek Apartments—Minneapolis |
“These HIT-funded projects really help us provide multifamily housing. We have been faced with an affordable housing crisis just like many places, so the more we can build the better it will be for working families. And it seems the HIT is always there to help us out.”
—Dan McConnell, Business Manager
Minneapolis Building and Construction Trades Council
HIGHLIGHTS OF MINNESOTA INVESTMENTS
| Project | Location | HIT Investment | TDC | Construction Work Hours |
| Riverdale Station East | Coon Rapids | $28,350,000 | $38,273,494 | 325,650 |
| Zvago Cooperative at Lake Superior | Duluth | $14,033,700 | $18,436,578 | 176,940 |
| Elevate at Southwest Station | Eden Prairie | $49,500,000 | $63,510,988 | 541,000 |
| Bassett Creek Apartments | Minneapolis | $33,609,500 | $37,616,980 | 344,690 |
| Gateway Northeast | Minneapolis | $20,950,000 | $38,660,971 | 273,760 |
| Lake Street Apartments | Minneapolis | $13,500,000 | $27,554,885 | 221,440 |
| The Chamberlain | Richfield | $48,277,000 | $62,509,690 | 420,570 |
| Parker Station Flats | Robbinsdale | $41,393,900 | $53,082,171 | 508,780 |
| University and Fairview | St. Paul | $79,100,713 | $68,486,408 | 476,130 |
| Zvago Cooperative at Stillwater | Stillwater | $15,825,900 | $22,400,354 | 192,200 |
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 December 31, 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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1227 25th Street, NW | Suite 500 | Washington, DC 20037 | 202.331.8055 | www.aflcio-hit.com |  |