Community Investment Initiatives

The HIT has established community investment initiatives in areas where its investments can, make a positive impact on residents’ lives. The HIT has a long history of successful initiative investing. The HIT (and subsidiary Building America CDE) create union construction jobs and build or preserve affordable housing, while strengthening the local community, and helping to generate competitive returns for the HIT’s investors.

HIT’s initiatives seek to take advantage of its staff’s demonstrated ability to network with community-based housing groups, labor organizations, developers and sponsors, mortgage bankers, local government officials, and housing finance agencies to generate housing and community development. The HIT’s investment initiatives help to enhance the HIT’s housing production capacity (i.e. portfolio investments), allowing it to be an active participant in local financing and housing markets.

Current initiatives include:

  • The MidWest@Work Investment Strategy was implemented in early 2016 to spur economic development in the industrial Midwest. By 2023, the strategy's goal is to provide over $1 billion for some 90 projects, add $900 million in capital from other sources, for total development investment of over $2 billion.
  • The New York City Housing Investment Strategy is the third phase of the HIT’s long-standing commitment to New York City. It has a goal of investing $1 billion between 2016 and 2023. The HIT’s NYC initiatives began in 2002 in the wake of September 11 to help the city address its urgent affordable housing needs. Since then, the HIT has invested in all five boroughs and neighboring Yonkers.
  • The Massachusetts Housing Initiative was started to increase the availability of affordable housing in this high-cost state. After its launch in 2007, the HIT met its initial three-year investment goal of $75 million by early 2010 and has continued to invest in affordable housing projects in the Commonwealth.

The HIT has also concluded a number of successful investment initiatives since 1994.