497 1 ahit-497boston_041422.htm AFL-CIO_HIT_BOSTONIMPACT_MARCH

 

Helping Build Boston—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 Boston

  

36

 

Projects

 

$667.4M

 

HIT Investment
Amount

 

$21.0M

 

Building America
NMTC Allocation

 

$1.6B

 

Total Development
Cost

 

4,232

 

Housing Units
Created or Preserved

 

         
12.9M 14,890 $1.3B $96.0M $3.1B
         
Hours of Union Total Jobs Across Total Wages State and Local Tax Total Economic
Construction Work Industries and Benefits Revenue Generated Impact

 

 

 

   
   

PROJECT PROFILE:  

COTE VILLAGE   

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: 

OLD COLONY PHASE THREE C 

The HIT provided $36.4 million in financing for the $26.5 million new construction of the 55-unit, all affordable, Old Colony Phase Three C project, creating an estimated 198,030 hours of union constuction 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 Boston—The Union Way MARCH 2022

 

 

 

       
         

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 

 

    HIT Investment/Building   Construction
Project Location America NMTC Allocation TDC 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
Horizons Watermark Boston $8,000,000 $62,076,217 455,850
Old Colony Phase Two A Boston $12,435,000 $22,211,272 211,980
Old Colony Phase Two B Boston $21,050,000 $39,236,796 377,070
Old Colony Phase Three A Boston $47,880,000 $64,040,973 511,510
Old Colony Phase Three B Boston $42,449,000 $61,054,733 486,320
Old Colony Phase Three C Boston $36,430,000 $26,506,507 198,030

 

 

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