MIDWEST@WORK INITIATIVE

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(2016-PRESENT)

This initiative was implemented in early 2016 to spur economic development in the industrial Midwest. The strategy’s footprint covers the states that border the Great Lakes, from Upstate New York to Minnesota. Ten cities/metropolitan areas—Buffalo, Chicago, Cleveland, Columbus, Detroit, Minneapolis, Milwaukee, Pittsburgh, Saint Paul, and St. Louis—are the focus of investment. By 2023, the goal is to have provided over $1 billion for the initiative. Ninety projects with total development investment of some $2 billion are anticipated.

MIDWEST@WORK ECONOMIC IMPACT OF INVESTMENTS

(2016-present)

Number of Projects
$M

HIT Investment Amount
$.0M

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
(55%)

Low-and Moderate-Income Housing Units

Midwest@Work Investments

Zvago Cooperative at Lake Superi... The four-story project will create 51 new units of senior housing overlooking Lake Superior. View

Church + State (Project 29) The 11- story and 5-story project will create 158 new units of housing along with a parking garage both near the Cuyahoga River and the city’s main business district. View

Gateway North Gateway North is a $31 million new construction, mixed-income, and mixed-use multifamily development. View

Mark Twain SRO Apartments The AFL-CIO Housing Investment Trust (HIT) is helping to finance the $39.9 million new construction of the Mark Twain SRO Apartments development in Chicago, IL. View

Sundance at Settler's Ridge This Class A multifamily townhome project consists of 218 units in 23 two-story buildings situated on a 23.2-acre site. In addition to the 23 residential buildings, ther... View

Gateway Northeast The AFL-CIO Housing Investment Trust (HIT) is financing the $38.7 million new construction of the Gateway Northeast development in Minneapolis, MN. View

The AFL-CIO HIT’s MidWest@ Work Investment Strategy will offer families a critical lifeline, and our country will be stronger and healthier because of its visionary hopes for America’s distressed Midwest. I am happy to support the Housing Investment Trust’s dreams for America’s families.
—Richard L. Trumka, President, AFL-CIO; Trustee, AFL-CIO Housing Investment Trust

Midwest@Work 3Q20

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 September 30, 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 expenses carefully before investing. Investors may view the HIT’s current prospectus, which contains more complete information, on its website at www.aflcio-hit.com 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.