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This initiative was launched in 2007 with a focus of increasing 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.



  • Number of Projects

  • $M

    HIT Investment Amount

  • $M

    Building America NMTC Allocation

  • $B

    Total Development Cost

  • Housing Units Created or Preserved

  • $B

    Total Economic Impact

  • M

    Hours of Construction Work Generated

  • Total Jobs Created

  • $M

    State, Local and Federal Tax Revenue Generated

  • Low-and Moderate-Income Housing Units
    (94% affordable)

Massachusetts Housing Initiative Investments
Old Colony The AFL-CIO Housing Investment Trust (“HIT”) is helping to finance the $87.6 million new construction of Old Colony Phases Three B & C, a 100% affordable rental developme... View
Charlesview Apartments The Charlesview Apartments project created a new 240-unit affordable rental housing complex in Boston’s Brighton neighborhood. View
Cote Village The AFL-CIO Housing Investment Trust (HIT) is providing financing for the $49 million development of Cote Village located in Boston, MA. View
Old Colony Phases Four and Five The AFL-CIO Housing Investment Trust is helping to finance the combined $162.8 million developments of Old Colony Phase Four and Phase Five near South Boston’s waterfront... View

When affordable housing and community development projects are undertaken with a focus on creating sustainable development and utilizing responsible contractors who provide their workforce with middle-class, family-supporting jobs, the Commonwealth as a whole benefits. Investing pension capital with an eye toward improving the economic outcomes for all our residents is the true definition of responsible investment.

—Frank Callahan, President,
Massachusetts Building Trades Council

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 December 31, 2023. Economic impact data is in 2022 dollars and all other figures are nominal.

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 and may obtain a copy from the HIT by calling the Marketing and Investor Relations Department collect at 202-331-8055. Investors should read the current prospectus carefully before investing.