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 the Twin Cities Area
Since Inception in 1984
| 84 | $1.6B | $5.0M | $2.5B | 11,876 |
| Projects | HIT
Investment Amount |
Building
America NMTC Allocation |
Total
Development |
Housing
Units Created or Preserved (53% affordable) |
| 22.3M | 28,164 | $2.2B | $222.0M | $5.5B |
| Hours
of Union Construction Work |
Total
Jobs Across Industries |
Total
Wages |
State
and Local Tax Revenue Generated |
Total
Economic Impact |
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PROJECT PROFILE: ONE SOUTHSIDE
Building America allocated $5.0 million in new markets tax credits for the $28.0 million new construction of a Federally Qualified Health Center in Minneapolis, creating an estimated 213,470 hours of union construction work. |
PROJECT PROFILE: THE AMERICAN COOPERATIVE ON LAKE PHALEN
The HIT provided $21.0 million in funding for the $34.3 million new construction of the 56-unit American Cooperative on Lake Phalen in Maplewood, creating an estimated 254,300 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 The Twin Cities—The Union Way | DECEMBER 2024 |
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| Ladder 260—Minneapolis | The Col—Columbia Heights | Estoria Cooperative of Lakeville—Lakeville | ||
“These HIT-funded projects really help us provide multifamily housing. We have been faced with an affordable housing crisis just like many places, so the more we can build the better it will be for working families. And it seems the HIT is always there to help us out.”
—Dan McConnell
Business
Manager, Minneapolis Building and Construction Trades Council
President, Minnesota Building and Construction
Trades Council
HIGHLIGHTS OF THE TWIN CITIES AREA INVESTMENTS
| Project | Location | HIT
Investment/Building America NMTC Allocation |
TDC | Construction
Work Hours |
| The Col Apartments (42nd & Central) | Columbia Heights | $10,631,900 | $21,899,161 | 140,880 |
| Estoria Cooperative of Lakeville | Lakeville | $19,152,300 | $41,138,350 | 339,980 |
| The American Cooperative on Lake Phalen | Maplewood | $20,956,900 | $34,267,507 | 254,300 |
| Labor Retreat Apartments | Minneapolis | $10,750,000 | $19,366,543 | 47,750 |
| Ladder 260 | Minneapolis | $18,219,487 | $34,281,708 | 203,510 |
| The Midwell (Greenway Apartments) | Minneapolis | $12,327,300 | $26,847,568 | 176,070 |
| One Southside | Minneapolis | $5,000,000 | $27,978,588 | 213,470 |
| Park Plaza/North Creek (Olson Court) | Minneapolis | $48,950,000 | $ 74,715,357 | 419,940 |
| Rise on 7 | St. Louis Park | $35,103,700 | $40,355,688 | 264,020 |
| Landmark Tower | St. Paul | $18,660,000 | $97,079,980 | 616,680 |
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 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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