AFL-CIO Housing Investment Trust
09/10/2024 | Press release | Distributed by Public on 09/10/2024 13:42
Prospectus by Investment Company - Form 497
|
Projects Under Construction as of August 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 | Ml | 148 | 30 | 705,380 | $42,312,400 | $72,990,473 | |
| 2Q 2021 | The Couture | Milwaukee | Wl | 322 | - | 1,464,510 | $104,745,000 | $159,255,248 | |
| 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 | The Midwell (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 | |
| 2Q2024 | Curtis Apartments | Worcester | MA | 129 | 129 | 681,270 | $13,061,000 | $97,502,520 | |
| 2Q2024 | Old Colony Phase Six | Boston | MA | 89 | 89 | 618,060 | $22,354,000 | $83,447,717 | |
| 2Q2024 | Union Tower | National City | CA | 94 | 94 | 579,270 | $27,241,874 | $85,488,798 | |
| 3Q2024 | Willa Rawls Manor | Chicago | IL | 123 | 123 | 73,410 | $23,770,000 | $46,375,332 | |
| 3Q2024 | The Villager & Briarwood West Apartments | Crystal Lake | IL | 116 | 116 | 58,070 | $16,525,000 | $30,525,453 | |
| HIT Projects | 35 | 6,054 | 3,286 | 22,445,520 | $1,001,894,432 | $2,902,907,467 | |||
|
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 |
| 3Q 2024 | Straight & Narrow | Paterson | NJ | 53,987 | - | - | 287,230 | $11,000,000 | $32,891,177 |
| Projects Receiving Building America CDE, Inc. New Markets Tax Credits Allocation | 6 | 934,735 | - | - | 2,160,690 | $55,000,000 | $264,782,565 | ||
| Grand Total | 41 | 6,054 | 3,286 | 24,606,210 | $1,056,894,432 | $3,167,690,032 |
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 August 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 HIT Investor Relations at (202) 331-8055 or visit the HIT's website at www.aflcio-hit.com.