Helping Build Illinois—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.
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Economic and Fiscal Impacts of the HIT-Financed Projects in Illinois
| 113 | $1.6B | $3.1B | 31.4M | 21,052 |
| Projects | Invested or Allocated | Total Development Cost | Hours of Union Construction Work |
Housing Units Created or Preserved |
| $6.0B | 33,266 | $2.3B | $266.8M | 69% |
| Total Economic Impact | Total Jobs Across Industries | Total Wages and Benefits |
State and Local Tax Revenue Generated | Percent Affordable |
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PROJECT PROFILE: COVENT APARTMENTS The HIT provided $4.9 million in financing for the $17.8 million substantial rehabilitation and conversion of the 30-unit all affordable historic hotel in Chicago, Illinois. This project will create an estimated 97,930 hours of union construction work. |
PROJECT PROFILE: SOUTHERN HILLS/ORLANDO The HIT provided $21.8 million in funding for the $40.9 million moderate rehabilitation of the Southern Hills and Orlando apartments in Decatur. The project will rehabilitate 212 units (100% affordable) and create an estimated 109,000 hours of union construction work. |
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Job and economic impact flgures are estimates calculated using IMPLAN, an input-output model, based on HIT and HIT subsidiary Building America CDE, Inc. project data. Data is since inception, current as of September 30, 2022. Economic impact data is in 2021 dollars and all other flgures are nominal.
| Helping Build Illinois —The Union Way | SEPTEMBER 2022 |
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| Metro 19 Apartments—Roselle | Edwin Berry Manor Apartments —Chicago | Evanston Senior Redevelopment—Evanston |
“We appreciate HIT’s commitment to and support of union construction at numerous projects that have put our members to work for nearly 30 years and recognize the benefits this commitment has provided to the workers and the community.”
| — | Michael
Macellaio, Secretary-Treasurer, Chicago and Cook County Building Construction Trades Council |
| HIGHLIGHTS OF ILLINOIS INVESTMENTS |
Project |
Location |
HIT Investment |
TDC |
Construction Work Hours |
| Circle Park Apartments | Chicago | $84,895,000 | $163,806,449 | 292,010 |
| Covent Apartments | Chicago | $4,900,000 | $17,763,640 | 97,930 |
| Edwin Berry Manor Apartments | Chicago | $5,752,000 | $12,521,150 | 45,010 |
| Evanston Senior Redevelopment | Evanston | $3,400,000 | $24,164,944 | 281,520 |
| Heiwa Terrace Apartments | Chicago | $28,500,000 | $68,414,801 | 396,710 |
| Liberty Meadows Estates, Phase II | Joliet | $2,100,000 | $8,126,827 | 82,610 |
| Metro 19 Apartments | Roselle | $65,928,000 | $77,098,874 | 570,480 |
| Morningside Court Apartments | Chicago | $28,700,000 | $56,425,536 | 105,240 |
| Northpoint Apartments | Chicago | $68,984,000 | $86,804,801 | 226,220 |
| Parkway Lakeside | O’Fallon | $26,094,000 | $28,160,111 | 295,180 |
| Southern Hills/Orlando | Decatur | $21,810,000 | $40,873,063 | 109,000 |
Job and economic impact flgures are estimates calculated using IMPLAN, an input-output model, based on HIT and HIT subsidiary Building America CDE, Inc. project data. Data is since inception, current as of September 30, 2022. Economic impact data is in 2021 dollars and all other flgures 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.
The projects shown on this table may not reflect HIT’s current portfolio for any or all ofthe following reasons: (i) the assets related to the project(s) shown on this table may no longer be held in the HIT’s current portfolio; (ii) other assets in the HIT’s current portfolio may have characteristics different from those shown on this table; and (iii) this table is not a complete list of all the projects flnanced by the HIT as of the date of this report. A complete list of the HIT’s portfolio holdings as of the most recently disclosed month-end is available upon request or on its website at aflcio-hit.com.
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1227 25th Street, NW | Suite 500 | Washington, DC 20037 | 202.331.8055 | www.aflcio-hit.com |  |