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 Boston
Since Inception in 1984
| 43 | $824.5M | $21.0M | $2.3B | 4,965 |
| Projects | HIT Investment Amount |
Building
America NMTC Allocation |
Total
Development Cost |
Housing
Units Created or Preserved (90% affordable) |
| 17.5M | 21,393 | $2.1B | $157.0M | $4.7B |
Hours
of Union |
Total
Jobs Across Industries |
Total
Wages |
State
and Local Tax Revenue Generated |
Total
Economic Impact |
 |
 |
PROJECT PROFILE: MARY ELLEN MCCORMACK - BUILDING A The HIT provided $24.6 million in financing for the $108.4 million new construction of the 94-unit all affordable Mary Ellen McCormack - Building A, creating an estimated 692,720 hours of union construction work. |
PROJECT PROFILE: OLD COLONY PHASE SIX The HIT provided $22.4 million in financing for the $83.4 million new construction of the 89-unit all affordable Old Colony Phase Six, creating an estimated 618,060 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 December 31, 2024. Economic impact data is in 2023 dollars and all other figures are nominal.
Helping Build Boston—The Union Way |
DECEMBER 2024 |
 |
 |
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| Flat 9 at Whittier Phase 3 | Mildred C. Hailey Apartments 1A | 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 | |||
| Flat 9 at Whittier Phase 3 | Boston | $26,645,000 | $125,475,018 | 824,920 | |||
| Mary Ellen McCormack - Building A | Boston | $24,600,000 | $108,420,430 | 692,720 | |||
| 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 | |||
| Old Colony Phase Six | Boston | $22,354,000 | $83,447,717 | 618,060 | |||
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 December 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 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.
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1227 25th Street, NW | Suite 500 | Washington, DC 20037 | 202.331.8055 | www.aflcio-hit.com |  |