Penn South Cooperative Celebration

New York, NY (Fall 2011) — New York City Comptroller John C. Liu joined with HIT Chairman John Sweeney, city and state labor leaders, other public officials and residents at the historic Penn South Cooperative in Manhattan to announce that the HIT has invested $640 million of pension capital through its New York City Community Investment Initiative over the last 10 years to create or preserve more than 24,000 housing or healthcare units in New York’s five boroughs. The most recent investment is $134 million for rehabilitation of Penn South, a project that will preserve affordability at the union-developed community, refurbish the aging complex, and create an estimated 610 union construction jobs.

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