New York City

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Economic Impact of HIT-Financed Projects in New York City

In 2019 Dollars, Since Inception*

  • Projects

  • $B

    HIT Investment Amount

  • $M

    Building America NMTC Allocation

  • $B

    Total Development Cost

  • Housing Units Created or Preserved

  • M

    Hours of Union Construction Work

  • Jobs Across Industries

  • $B

    Total Wages and Benefits

  • $M

    State and Local Tax Revenue Generated

  • $B

    Total Economic Impact


New York City Investments
18 Sixth Avenue 18 Sixth Avenue at Pacific Park is an 858-unit apartment development currently under construction adjacent to the Barclays Center in Brooklyn, NY. View
Seton Phase II This project is a $21.1 million two-story addition above the 137-bed, state-of-the-art, Elizabeth Seton Pediatric Care Center, a skilled nursing care facility financed by... View
1490 Southern Boulevard The AFL-CIO Housing Investment Trust (HIT) is helping to finance the $59.1 million new construction of the 1490 Southern Boulevard apartments in the Crotona Park East nei... View
33 Bond Street 33 Bond Street is the new construction of a mixed-income, mixed-use 25-story multifamily development located in Downtown Brooklyn. View
Betances Senior Apartments The project is being developed by Breaking Ground, New York’s largest developer of supportive housing. View

When building trades’ pension capital is used to finance 100% union built development in New York City, our pension funds get stronger. When the project also addresses the City’s massive need for affordable housing, it is a win-win.”

—Gary LaBarbera, President, Building and Construction Trades Council of Greater New York

* Job and economic impact figures are estimates calculated using IMPLAN, an input-output model, based on HIT and HIT 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.

Investors should consider the HIT’s investment objectives, risks and expenses carefully before investing. A prospectus containing more complete information may be obtained from the HIT by calling the Marketing and Investor Relations Department collect at 202-331-8055 or by viewing the HIT’s website at The prospectus should be read carefully before investing.