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 | $467.2M | $866.0M | 10.2M | 3,520 |
| Projects | HIT
Investment Amount |
Total
Development Cost |
Hours
of Union |
Housing
Units Created or Preserved |
| $2.1B | 11,127 | $879.4M | $95.5M | 35% |
| Total
Economic Impact |
Total
Jobs Across Industries |
Total Wages and Benefits |
State
and Local Tax Revenue Generated |
Percent Affordable |
PROJECT PROFILE:
JAZZIE COLLINS APARTMENTS
The HIT provided $19.1 million in financing for the $52.5 million new construction of the 96-unit, all affordable, Jazzie Collins 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.
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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 current as of June 30, 2022. Economic impact data is in 2021 dollars and all other flgures are nominal.
| Helping Build the Bay Area —The Union Way | JUNE 2022 |
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| Bernal Gateway—San Francisco | Casa del Pueblo Apartments—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
Project |
Location |
HIT Investment |
TDC |
Construction
Work Hours |
| 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 |
| Jazzie Collins Apartments | San Francisco | $19,058,892 | $52,515,971 | 368,640 |
| 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 flgures 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 June 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.
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1227 25th Street, NW | Suite 500 | Washington, DC 20037 | 202.331.8055 | www.aflcio-hit.com |  |