AFL-CIO Housing Investment Trust
11/15/2024 | Press release | Distributed by Public on 11/15/2024 11:41
Prospectus by Investment Company - Form 497
| Helping Build San Francisco -The Union Way |
The AFL-CIO Housing Investment Trust builds on 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 San Francisco
Since Inception in 1984
| 13 | $370.2M | $729.3M | 8.3M | 2,007 |
| Projects |
HIT Investment Amount |
Total Development Cost |
Hours of Union |
Housing Units Created or Preserved |
| $1.9B | 9,276 | $819.5M | $84.4M | 29% |
|
Total Economic Impact |
Total Jobs Across Industries |
Total Wages |
State and Local Tax Revenue Generated |
Percent Affordable |
|
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. |
PROJECT PROFILE: JAZZIE COLLINS APARTMENTS The HIT provided $19.1 million in funding for the $52.5 million new construction of the 96-unit all affordable Jazzie Collins Apartments in San Francisco, creating an estimated 368,640 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 September 30, 2024. Economic impact data is in 2023 dollars and all other figures are nominal.
| Helping Build San Francisco -The Union Way | SEPTEMBER 2024 |
| Arc Light Apartments-San Francisco | San Cristina-San Francisco | Potrero Launch Apartments-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
Secretary-Treasurer, San Francisco Building and Construction Trades Council
HIGHLIGHTS OF BAY AREA INVESTMENTS
| Project | Location | HIT Investment | TDC |
Construction Work Hours |
| 101 Polk | San Francisco | $58,084,400 | $82,847,679 | 906,890 |
| Arc Light Apartments | San Francisco | $32,462,900 | $47,948,451 | 882,410 |
| Bernal Gateway | San Francisco | $5,406,306 | $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 |
| Market Heights | San Francisco | $2,340,000 | $2,574,000 | 43,090 |
| Potrero Launch Apartments | San Francisco | $2,585,000 | $80,400,000 | 1,156,820 |
| Rincon Green @ 333 Harrison | San Francisco | $70,001,400 | $105,000,000 | 1,464,530 |
| San Cristina | San Francisco | $17,472,000 | $49,334,105 | 232,130 |
| Ventana Residences | San Francisco | $52,000,000 | $121,934,463 | 805,240 |
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 September 30, 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 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 |