497 1 hitpucl0131-497_030124.htm DEFINITIVE MATERIALS

 

Projects Under Construction

as of January 31, 2024

 

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 Residences @ 150 Bagley Detroit MI 148 30 705,380 $42,312,400 $72,990,473
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 Morningside Court Apartments Chicago IL 171 171 105,240 $28,700,000 $56,425,536
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
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 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
2Q 2023 Hudson Exchange Phase II Jersey City NJ 802 - 4,142,870 $50,000,000 -
3Q 2023 Grace Manor Apartments Chicago IL 65 65 252,230 $4,109,600 $30,215,493
3Q 2023 Labor Retreat Apartments Minneapolis MN 77 77 47,750 $10,750,000 $19,366,543
4Q 2023 Island Terrace Apartments - A Chicago IL 62 56 95,300 $5,327,000 $25,205,460
4Q 2023 Island Terrace Apartments - B Chicago IL 178 161 272,550 $17,152,000 $71,932,325
4Q 2023 Imani Village Senior Residences Chicago IL 70 70 247,830 $2,171,000 $27,085,749
4Q 2023 6900 South Crandon Apartments Chicago IL 151 151 130,890 $16,836,000 $46,975,331
4Q2023 South Shore HHDC Apartments Chicago IL 126 126 140,900 $17,536,400 $44,053,288
4Q2023 Landmark Tower St. Paul MN 187 - 616,680 $18,660,000 $97,079,980
4Q2023 400 Lake Shore Drive Chicago IL 635 127 3,316,100 $55,000,000 $543,305,000
4Q 2023 The American Cooperative on Lake Phalen Maplewood MN 56 - 254,300 $20,956,900 $34,267,507
                 
  HIT Projects 37   6,534 3,566 22,055,040 $1,137,010,758 $2,976,155,381
                 

 

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
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 

3   515,467 - - 1,019,910 $28,000,000 $150,429,500
                   
  Grand Total 40     6,534 3,566 23,074,950 $1,165,010,758 $3,126,584,881

 

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 January 31, 2024. 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.