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| Helping Build Boston—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 Boston
| 41 | $777.6M | $21.0M | $2.1B | 4,782 |
| Projects | HIT
Investment Amount |
Building America NMTC Allocation |
Total Development Cost |
Housing Units |
| 16.2M | 19,759 | $1.9B | $143.5M | $4.3B |
| Hours of Union Construction Work |
Total Jobs Across Industries |
Total
Wages and Benefits |
State
and Local Tax Revenue Generated |
Total Economic Impact |
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PROJECT PROFILE: MILDRED C. HAILEY APARTMENTS 1A
The HIT provided $14.0 million in financing for the $105.3 million new construction of the 100-unit (100% affordable) Mildred C. Hailey Apartments 1A, creating an estimated 728,560 hours of union construction work. |
PROJECT PROFILE: FLAT 9 AT WHITTIER PHASE 3
The HIT provided $26.6 million in financing for the $125.5 million new construction of the 119-unit (90% affordable) Flat 9 at Whittier Phase 3 Apartments, creating an estimated 824,920 hours of union construction work. |
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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 March 31, 2024. Economic impact data is in 2023 dollars and all other figures are nominal.
| Helping Build Boston—The Union Way | MARCH 2024 |
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| 95 Saint | Cote Village | Georgetowne
Homes | ||
“The partnership between organized labor, investment capital, and public housing represents the essential foundation for a better Boston, where all people can thrive.”
—Kenzie Bok, Administrator
Boston Housing Authority
HIGHLIGHTS OF BOSTON INVESTMENTS
| Project | Location | HIT
Investment/Building America NMTC Allocation |
TDC | Construction
Work Hours |
| 95 Saint | Boston | $51,940,400 | $66,685,759 | 478,300 |
| Cote Village | Boston | $20,116,000 | $49,049,428 | 415,960 |
| Mildred C. Hailey Apartments 1A | Boston | $14,040,000 | $105,275,177 | 728,560 |
| Mildred C. Hailey Apartments 1B | Boston | $16,020,000 | $88,887,626 | 611,020 |
| Old Colony Phase Three A | Boston | $47,880,000 | $64,040,973 | 511,510 |
| Old Colony Phase Three B | Boston | $42,449,000 | $61,054,733 | 486,320 |
| Old Colony Phase Three C | Boston | $36,430,000 | $26,506,507 | 198,030 |
| Old Colony Phase Four | Boston | $27,432,000 | $84,684,476 | 562,100 |
| Old Colony Phase Five | Boston | $25,993,000 | $78,109,976 | 478,090 |
| Flat 9 at Whittier Phase 3 | Boston | $26,645,000 | $125,475,018 | 824,920 |
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 March 31, 2024. Economic impact data is in 2023 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 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 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.
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1227 25th Street, NW | Suite 500 | Washington, DC 20037 | 202.331.8055 | www.aflcio-hit.com |
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