497 1 pucl0531-497_061223.htm PROJECTS UNDER CONSTRUCTION

 

  Projects Under Construction
as of May 31, 2023

 

Commitment/
Construction
Start
HIT Projects City State Total
Units
Affordable
Units
Union
Construction
Hours
HIT
Commitment
Total
Development
Cost
4Q 2020 Ventana Residences (99 Ocean) San Francisco CA 193 48 805,240 $52,000,000 $121,934,463
4Q 2020 Carl Mackley Houses Philadelphia PA 184 184 262,640 $13,800,000 $36,876,137
4Q 2020 Residences @ 150 Bagley Detroit MI 148 30 705,380 $47,791,901 $72,990,473
4Q 2020 Morrow (University and Fairview) St. Paul MN 243 243 476,130 $79,100,713 $68,486,408
4Q 2020 Jazzie Collins Apartments (53 Colton) San Francisco CA 96 96 368,640 $19,058,892 $52,515,971
1Q 2021 Circle Park Apartments Chicago IL 418 418 292,010 $84,895,000 $163,806,449
1Q 2021 Gateway Apartments Chicago IL 161 17 382,510 $43,500,000 $50,352,486
1Q 2021 Wilder Square St. Paul MN 136 136 157,100 $22,909,000 $33,108,000
2Q 2021 The Couture Milwaukee WI 322 - 1,464,510 $104,745,000 $159,255,248
2Q 2021 Heartland View Apartments Wentzville MO 201 - 354,360 $32,000,000 $37,377,307
2Q 2021 Morningside Court Apartments Chicago IL 171 171 105,240 $28,700,000 $56,425,536
2Q 2021 Amber Union Falcon Heights MN 125 125 371,940 $18,273,000 $55,604,667
2Q 2021 Cadence Apartments (Old Cedar) Bloomington MN 68 68 150,360 $21,774,000 $19,169,071
3Q 2021 The American Cooperative of Anoka Anoka MN 87 - 292,850 $20,931,200 $34,728,425
3Q 2021 Granada Senior Apartments San Antonio TX 265 265 321,480 $37,000,000 $63,242,767
3Q 2021 Metro 19 Apartments Roselle IL 295 - 570,480 $65,928,000 $77,098,874
4Q 2021 311 West 42nd Street Manhattan NY 330 83 1,995,680 $50,000,000 $337,700,000
4Q 2021 Peregrine Apartments Minneapolis MN 163 163 363,130 $55,587,970 $55,711,262
4Q 2021 The Crest Apartments Brooklyn Center MN 171 171 192,720 $25,014,942 $40,052,670
1Q 2022 Zenith Duluth MN 122 13 334,360 $26,682,200 $49,084,470
1Q 2022 Southern Hills/Orlando Decatur IL 212 212 109,000 $21,810,000 $40,873,063
2Q 2022 Greenway Apartments Minneapolis MN 86 86 176,070 $12,327,300 $26,847,568
2Q 2022 Rise on 7 St. Louis Park MN 120 120 264,020 $35,103,700 $40,355,688
2Q 2022 Covent Apartments Chicago IL 30 30 97,930 $4,900,000 $17,763,640
2Q 2022 42nd & Central Columbia Heights MN 62 62 140,880 $10,631,900 $21,899,161
2Q 2022 Edwin Berry Manor Apartments Chicago IL 56 56 45,010 $5,752,000 $12,521,150
2Q 2022 Ladder 260 Minneapolis MN 90 90 203,510 $18,219,487 $34,281,708
3Q 2022 Soul St. Paul MN 178 178 483,560 $64,700,959 $70,470,714
3Q 2022 Marshall Union Manor Portland OR 242 242 19,010 $24,437,600 $24,437,600
3Q 2022 San Cristina San Francisco CA 58 58 232,130 $17,472,000 $49,334,105
4Q 2022 Old Colony Phase 4 Boston MA 104 104 562,100 $27,432,000 $84,684,476
4Q 2022 Old Colony Phase 5 Boston MA 104 104 478,090 $25,993,000 $78,109,976
4Q 2022 Flat 9 at Whittier Phase 3 Boston MA 119 107 824,920 $26,645,000 $125,475,018
1Q 2023 Mildred Hailey 1A Boston MA 100 100 728,560 $14,040,000 $105,275,177
1Q 2023 Mildred Hailey 1B Boston MA 123 123 611,020 $16,020,000 $88,887,626
                 
  HIT Projects 35   5,583 3,903 14,942,570 $1,175,176,764 $2,406,737,354

 

Commitment/
Construction
Start
Building America CDE, Inc. Projects
(HIT Subsidiary)
City State Square
Feet
Total
Units
Affordable
Units
Union
Construction
Hours
New Markets Tax
Credits
Allocation
Total
Development
Cost
4Q 2021 Destination Crenshaw Los Angeles CA 40,000 - - 198,690 $8,000,000 $48,557,521
1Q 2022 Toledo Innovation Center Toledo OH 107,000 - - 399,810 $10,000,000 $37,918,692
4Q 2022 Pittsburgh Glass Center Pittsburgh PA 27,000 - - 160,040 $5,000,000 $12,648,787
1Q 2023 Public Health Campus on Cedar Philadelphia PA 448,467 - - 661,180 $15,000,000 $89,223,192
  Projects Receiving Building America CDE, Inc.
New Markets Tax Credits Allocation
4   622,467 - - 1,419,720 $38,000,000 $188,348,192
                   
  Grand Total 39     5,583 3,903 16,362,290 $1,213,176,764 $2,595,085,546

 

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 May 31, 2023. Economic impact data is in 2022 dollars and all other figures are nominal.

 

This table provides information about projects financed by the HIT that were pre- or under construction as of the date of this report. Projects are included until they reach permanent loan status. The projects shown on this table may not reflect HIT’s current portfolio for any or all of the 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 financed by the HIT as of the date of this report. Investors should consider the HIT’s investment objectives, risks, and charges and expenses carefully before investing. This and other information is contained in the HIT’s current prospectus. To obtain a current prospectus, call the HIT at (202) 331-8055 or visit the HIT’s website at www.aflcio-hit.com.