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MASSACHUSETTS HOUSING INITIATIVE

Back to Initiatives

(2007-PRESENT)

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.

MASSACHUSETTS ECONOMIC IMPACT OF INVESTMENTS

(2016-present)

  • Number of Investments Made
  • $M

    HIT Investment Amount
  • $M

    Building America NMTC Allocation
  • $B

    Total Development Cost

  • Housing Units Created or Preserved
  • (93%)

    Low-and Moderate-Income Housing Units
  • M

    Hours of Construction Work Generated

  • Total Jobs Created
  • $M

    State, Local and Federal Tax Revenue Generated
  • $B

    Total Economic Impact
Massachusetts Housing Initiative Investments
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
95 Saint Alphonsus Street Apartm... The six story project will create 115 new units of housing with 13% of those units affordable to families earning 70% or less of the Area Median Income under the City’s I... View
Old Colony Phase Three A The development will be for two four-story elevator buildings comprised of 135 apartments, including 108 public housing units financed with 4% Low Income Housing Tax Cre... View
Maverick Landing The AFL-CIO Housing Investment Trust (HIT) helped cities such as Boston replace run-down and outdated public housing projects with new, revitalized developments under HUD... View
Gateway North Gateway North is a $31 million new construction, mixed-income, and mixed-use multifamily development. View
Franklin Park Franklin Park Apartments is comprised of 220 scattered-site residential units and four commercial storefronts located on 12 land parcels in Boston’s Dorchester and Roxbur... View
Charlesview Apartments The Charlesview Apartments project created a new 240-unit affordable rental housing complex in Boston’s Brighton neighborhood. 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
ESG Handout - 1Q20

Job and economic impact figures are estimates calculated using IMPLAN, an input-output model, based on HIT and subsidiary Building America project data. The data is current as of March 31, 2020. Economic impact data is in 2019 dollars and all other figures are nominal.

The performance data quoted represents past performance and is no guarantee of future results. Investment results and principal value will fluctuate so that units in the HIT, when redeemed, may be worth more or less than the original cost. The HIT’s current performance may be lower or higher than the performance data quoted. Performance data current to the most recent month-end is available from the HIT’s website at www.aflcio-hit.com. Gross performance figures do not reflect the deduction of HIT expenses. Net performance figures reflect the deduction of HIT expenses and are the performance figures investors experience in the HIT. Information about HIT expenses can be found on page 1 of the HIT’s current prospectus. Periods over one year are annualized.

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 prospectus. To obtain a prospectus, call the HIT at (202) 331-8055 or visit the HIT’s website at www.aflcio-hit.com.