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Helping Build Twin Cities—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 the Twin Cities
| 71 | $1.3B | $1.9B | 18.5M | 10,344 |
| Projects | HIT Investment Amount |
Total
Development |
Hours
of Union Construction Work |
Housing
Units Created or Preserved |
$3.9B |
23,114 |
$1.5B |
$153.1M |
49% |
Total
Economic
|
Total
Jobs Across Industries |
Total Wages and Benefits
|
State
and Local Tax Revenue Generated |
Percent Affordable |
 |
 | ||
PROJECT PROFILE: WILDER SQUARE The HIT provided a total of $22.9 million in funding for the $33.1 million substantial rehabilitation of the 136-unit Wilder Square in St. Paul, creating an estimated 157,100 hours of union construction work. |
PROJECT PROFILE: AMBER UNION The HIT provided $18.3 million in funding for the $55.6 million substantial rehabilitation of the 125-unit Amber Union apartments in Falcon Heights, creating an estimated 371,940 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 September 30, 2021. Economic impact data is in 2020 dollars and all other figures are nominal.
| Helping Build Twin Cities—The Union Way | SEPTEMBER 2021 |
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| The Penfield—St. Paul | Old Cedar Apartments—Bloomington | 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 TWIN CITIES INVESTMENTS
| Project | Location | HIT Investment | TDC | Construction Work Hours | |||
| The American Cooperative of Anoka | Anoka | $20,931,200 | $34,728,425 | 157,100 | |||
| Old Cedar Apartments | Bloomington | $21,744,000 | $19,169,071 | 150,360 | |||
| Amber Union | Falcon Heights | $18,273,000 | $55,604,667 | 371,940 | |||
| Bassett Creek Apartments | Minneapolis | $33,609,500 | $37,616,980 | 344,690 | |||
| Gateway Northeast | Minneapolis | $20,950,000 | $38,660,971 | 273,760 | |||
| Parker Station Flats | Robbinsdale | $41,393,900 | $53,082,171 | 508,780 | |||
| Union Flats | St. Paul | $30,630,000 | $68,476,863 | 615,780 | |||
| Morrow (University and Fairview) | St. Paul | $79,100,713 | $68,486,408 | 476,130 | |||
| Wilder Square | St. Paul | $22,909,000 | $33,108,000 | 157,100 | |||
| Sundance at Settler’s Ridge | Woodbury | $53,545,900 | $69,580,136 | 544,190 | |||
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 September 30, 2021. Economic impact data is in 2020 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 |  |