Curtis Apartments – AFL-CIO HIT

Curtis Apartments Worcester, MA

$M

HIT Investment
$M

Total Development Cost
Units of housing, with 100% affordable units
Hours of Union Construction Work Generated
$M

Tax revenue generated
$M

Total economic benefit

“We at the Worcester-Fitchburg Building Trades Council applaud the tremendous effort being made to create 129 new units of affordable housing at the historic Curtis Apartments while creating construction career opportunities and fostering economic growth. That’s real impact! Curtis Apartments demonstrates how Labor’s capital is being put to work to address our housing crisis and generate work hours for our members.” —Jorge Rivera, President, Worcester-Fitchburg Building Trades Council

PROJECT DESCRIPTION

Originally built in 1950 to provide affordable housing for veterans following World War II, Curtis Apartments is the second-oldest property in the Worcester Housing Authority portfolio and houses approximately 1,300 residents. Curtis Apartments Phase I is the first phase of a larger redevelopment project, which once completed will replace all the existing public housing units and add 155 workforce housing units.

HIT ROLE

HIT will invest a total $13.06 million in MassHousing long-term, tax-exempt bonds for the development of Curtis Apartments Phase I. Under the Massachusetts Housing Initiative, launched in 2007, the HIT has financed 42 projects in the Commonwealth.

SOCIAL IMPACT

In addition to the economic impacts below, all 129 units at the development will be subject to income restrictions with set-asides ranging from 30% to 80% of area median income.

*Job and economic impact figures are estimates calculated using IMPLAN, an input-output model, based on HIT project data. The data is current as of June 30, 2024. Economic impact data is in 2023 dollars and all other figures are nominal.

This page provides information about a project or projects financed by the HIT which may or may not be reflective of other financed projects or refer to an asset currently held in the HIT’s portfolio. Investors should consider the HIT’s investment objectives, risks, charges, and expenses carefully before investing. This and other information is contained in HIT’s prospectus, available at aflcio-hit.com or by calling 202-331-8055. The prospectus should be read carefully before investing.