497 1 hitpucl524-497_053124.htm DEFINITIVE MATERIALS

 

Projects Under Construction
as of May 31, 2024

 

Commitment/
Construction
Start
HIT Projects City State   Total
Units
Affordable
Units
Union
Construction
Hours
HIT
Commitment
Total
Development
Cost
4Q 2020 Residences @ 150 Bagley Detroit MI   148 30 705,380 $42,312,400 $72,990,473
2Q 2021 The Couture Milwaukee WI   322 - 1,464,510 $104,745,000 $159,255,248
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 The Ellery (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 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
4Q2023 The American Cooperative on Lake Phalen Maplewood MN   56 - 254,300 $20,956,900 $34,267,507
2Q2024 Two Towers East Moline IL   239 239 231,900 $18,935,000 $48,967,899
2Q2024 Park Plaza / Olson Court Minneapolis MN   253 253 419,940 $48,950,000 $74,715,357
2Q2024 Estoria Cooperative of Lakeville Lakeville MN   89 - 339,980 $19,438,400 $41,138,350
                   
  HIT Projects 31     5,768 3,000 20,756,920 $935,942,558 $2,622,810,414

 

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 - - 205,490 $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
1Q 2024 The Wayman Palmer (Toledo) YMCA Community Hub Toledo OH 192,281 - - 250,800 $8,000,000 $29,451,888
1Q 2024 Allentown Panel Shop (Marcon) Allentown PA 173,000 - - 557,300 $8,000,000 $52,010,000
 

Projects Receiving Building America CDE, Inc.

New Markets Tax Credits Allocation

5   880,748 - - 1,873,460 $44,000,000 $231,891,388
                   
  Grand Total 36     5,768 3,000 22,630,380 $979,942,558 $2,854,701,802

 

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, 2024. Economic impact data is in 2023 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.