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Helping Build The 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 HIT-Financed Projects in the Bay Area
21
Projects
|
$467.2M
HIT
Investment
|
$866.0M
Total Development Cost
|
10.2M
Hours of Union
|
3,520
Housing
Units
|
| $2.1B | 11,127 | $879.4M | $95.5M | 35% |
| 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: 53 COLTON STREET The HIT provided $19.1 million in financing for the $52.5 million new construction of the 96-unit, all affordable, 53 Colton Street apartments, creating an estimated 368,640 hours of union construction work. |
PROJECT PROFILE: VENTANA RESIDENCES The HIT provided $52.0 million in funding for the $121.9 million new construction of the 193-unit (25% affordable)Ventana Residences in San Francisco, creating an estimated 805,240 hours of union construction work. |
continued
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 March 31, 2022. Economic impact data is in 2021 dollars and all other figures are nominal.
| Helping Build the Bay Area — The Union Way | MARCH 2022 |
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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. ”
—Rudy Gonzalez
Executive Director, San Francisco Labor Council
HIGHLIGHTS OF BAY AREA INVESTMENTS
| Construction | ||||
| Project | Location | HIT Investment | TDC | Work Hours |
| 53 Colton Street | San Francisco | $19,058,892 | $52,515,971 | 368,640 |
| 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 |
| 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 |
| Ventana Residences | San Francisco | $52,000,000 | $121,934,463 | 805,240 |
| Casa del Pueblo Apartments | San Jose | $24,982,000 | $62,613,111 | 513,280 |
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 March 31, 2022. Economic impact data is in 2021 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.
 | 1227 25th Street, NW | Suite 500 | Washington, DC 20037 | 202.331.8055 | www.aflcio-hit.com |  |