TRANSCRIPT – HIT in Chicago Video (2024 Year- End Updates)
Text: Chicago, 2024
James Sweeney, President-Business Manager, Operating Engineers Local 150
Well, Chicago is about as Union Town as you're going to find.
Michael Clemmons, Int. Vice President, 6th District IBEW
We have the highest market shares in the country in all of our core industries.
James Sweeney, President-Business Manager, Operating Engineers Local 150
The whole idea of labor movement investing its money to create and help spur development. It brings equity to the community and to our membership at the same time.
Michael Clemmons, Int. Vice President, 6th District IBEW
If we're going to invest in something, we should invest in ourselves, and that's what the HIT is. The unique thing about it is once that money goes in, the HIT then uses that money to invest in projects that put our members to work.
Mike Macellaio, President, Chicago and Cook County Building and Construction Trades Council
Having HIT involved in a project is an assurance to us that we know that the project's going to be built with our members and their families are going to benefit from it, and the community's going to benefit from it.
Don Villar, Sec. Treasurer, Chicago Federation of Labor
Seeing the buildings and the structures that HIT, the Housing Investment Trust, has invested in and the pride that these workers will have.
Michelle Lawson, Laborers Union Local 4
It really helps the ones like middle class or just trying to get back on their feet.
Text: Cadence Apartments, Near West Side
Lee Oller, Executive Vice President, Merchants Capital Chicago:
They built workforce housing and this allows people who work in this area to actually live in this area.
Text: Merchants Capital project sign, Imani Village Senior Residences project sign
Imani Village Senior Residences, South Side
Michelle Lawson, Laborers Union Local 4
Back when I was younger, I grew up around here in special projects like this that you can be on.
Text: Island Terrance Apartments, Woodlawn
Island Terrace Apartments project sign
Don Villar, Sec. Treasurer, Chicago Federation of Labor
Oftentimes maybe affordable housing isn't for some investors, but with HIT, that's at their core.
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Text: Edwin Berry Manor Apartments, Woodlawn
Emmett Donovan, Sr. Vice President, Merchants Capital Chicago
This one is on the South Side of Chicago in a very difficult area to create affordable housing. There's very few investors that we deal with that can accommodate the type of flexibility needed to get the transaction done because quite frankly, it wouldn't have happened had they not.
Text: Northpoint Apartments, Rogers Park
Michael Clemmons, Int. Vice President, 6th District IBEW
Affordable housing units. A lot of people have a stigma about it. It's poor construction and that's totally dispelled if it's a HIT project. We know the workforce. There's going to be our members, it's going to be building trades members.
Text: Covent Apartments SRO, Lincoln Park
Olumide Kayode, Superintendent, Burling Builders:
They provide a certain level of professionalism and I expect a certain quality product from all union employees.
James Sweeney, President-Business Manager, Operating Engineers Local 150
And then while we're doing those jobs, we pay into our pension, our healthcare and our union, and the cycle starts all over again.
Text:
(Circular Graphic) UNION WAGES – PENSION – HIT FUND – HIT FINANCING AND RETURNS – CONSTRUCTION PROJECTS
Don Villar, Sec. Treasurer, Chicago Federation of Labor
That's one of the great things about the Housing Investment Trust. It's creating this virtuous cycle that benefits everybody.
Text: Grace Manor Apartments, North Lawndale
Michael Clemmons, Int. Vice President, 6th District IBEW
Not only are we just building a project that's putting our members to work, I mean it has ripple effects in the community. We're taking a property that maybe there was nothing there before, and now we're putting housing there. Now we're putting folks there to spend money in that community. Now there's ancillary businesses that take off.
Text: Multifamily Housing Grace Manor, project sign
Text: Grace Manor Apartments, project sign
Text: Merchants Capital, project sign
Text: Circle Park, project sign
Text: Circle Park Apartments, Near West Side
Text: 400 Lake Shore, Streeterville
Final Project Rendering
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Don Biernacki, Executive Vice President, Related Midwest
Chicago is alive and buildings like this, and partnerships with good union labor, with HIT, that's the strongest statement that we can say that Chicago isn't going anywhere. We are here, have been here, and will be here for a very, very long time.
Text: Wrigleyville North Apartments, Lake View
Text: Heiwa Terrace Apartments, Uptown
Michael Clemmons, Int. Vice President, 6th District IBEW
We're making a great return on our investments. Our members are getting man-hours on projects. Those projects are all union because the HIT ensures that with their investment money, which is our members pension, health, and welfare money. We really value our partnership with HIT and putting our members to work and making our pension dollars work for us.
James Connolly, Business Manager, Chicago Laborers’ District Council
Let's use an investment vehicle in order to speak for us and with us and with the Housing Investment Trust, they'll walk out and I smile and say, "Why didn't I do this years ago".
Text:
HIT’s CHICAGO IMPACT
68 Projects
$1.2 Billion Invested or Allocated
25.0 Million Hours of Union Construction Work
14,896 Units of Housing (68% Affordable)
$5.5 Billion Total Economic Impacts
HIT’s National Impact:
617 Projects
$11.1 Billion Invested or Allocated
210.4 Million Hours of Union Construction Work
240,484 Jobs Across Communities
130,433 Units of Housing (67% Affordable)
$48.2 Billion Total Economic Impacts
AFL-CIO HOUSING INVESTMENT TRUST
COMPETITIVE RETURNS | UNION CONSTRUCTION JOBS | HOUSING FINANCE
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.
The performance data quoted represents past performance and is no guarantee of future results. Investment results and principal value will fluctuate so that units in the HIT, when redeemed, may be worth more or less than the original cost. The HIT’s current performance data may be lower or higher than the performance data quoted. Performance data current to the most recent month-end is available from the HIT’s website at www.aflcio-hit.com.
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.
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