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Helping Build St. Louis—The Union Way |
The AFL-CIO Housing Investment Trust builds on nearly 40 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 St. Louis Area
31
Projects
|
$607.2M
HIT
Investment
|
$983.8M
Total Development
|
13.9M
Hours of Union
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5,268
Housing Units |
| $2.6B | 15,339 | $1.1B | $86.9M | 33% |
| 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: HEARTLAND VIEW APARTMENTS The HIT provided $32.0 million in financing for the $37.4 million new construction of the 201-unit project in Wentzville. This project will create an estimated 354,360 hours of union construction work. |
PROJECT PROFILE: THE FOUNTAINS OF ELLISVILLE The HIT provided $17.5 million in financing for the $18.2 million expansion of 229-unit Fountains of Ellisville, creating an estimated 174,840 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 since inception, current as of June 30, 2023. Economic impact data is in 2022 dollars and all other figures are nominal.
| Helping Build St. Louis—The Union Way | JUNE 2023 |
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The Heights at Manhassett—Richmond Heights |
Holy Infant & St. Joseph Apartments—Shrewsbury |
The Laurel—St. Louis |
“We appreciate the HIT’s ongoing support of union construction for multifamily and senior housing projects in the St. Louis metro area and recognize the benefits provided to the workers and the community.”
—John Stiffler, Executive Secretary-Treasurer
St. Louis Building and Construction Trades Council
HIGHLIGHTS OF ST. LOUIS AREA INVESTMENTS
| Project | Location | HIT Investment | TDC | Construction Work Hours | |||
| The Fountains of Ellisville | Ellisville | $17,517,500 | $18,213,929 | 174,840 | |||
| St. John Neumann Apts. | Jennings | $5,066,000 | $7,983,263 | 79,730 | |||
| Parkway Lakeside Apartments | O’Fallon | $26,094,000 | $28,160,111 | 295,180 | |||
| The Heights of Manhassett | Richmond Heights | $43,300,000 | $55,801,788 | 547,750 | |||
| Holy Infant & St. Joseph Apartments | Shrewsbury | $6,600,000 | $13,000,000 | 182,990 | |||
| Covenant Place II | St. Louis | $6,687,100 | $24,471,938 | 234,920 | |||
| Gatesworth Apartments | St. Louis | $34,195,000 | $36,208,000 | 412,570 | |||
| The Laurel | St. Louis | $44,952,400 | $175,000,000 | 2,696,300 | |||
| Pacific Park Apartments | St. Louis | $63,131,600 | $98,318,292 | 1,514,830 | |||
| Heartland View Apartments | Wentzville | $32,000,000 | $37,377,307 | 354,360 | |||
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 since inception, current as of June 30, 2023. Economic impact data is in 2022 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.
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. 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.
 | 1227 25th Street, NW | Suite 500 | Washington, DC 20037 | 202.331.8055 | www.aflcio-hit.com |  |