New York City

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Economic Impact of HIT-Financed Projects in New York City

In 2023 Dollars, Since Inception*

  • Projects

  • $.0B

    HIT Investment Amount

  • $.0M

    Building America NMTC Allocation

  • $B

    Total Development Cost

  • Housing Units Created or Preserved
    (92% affordable)

  • $B

    Total Economic Impact

  • M

    Hours of Union Construction Work

  • Jobs Across Industries

  • $.0B

    Total Wages and Benefits

  • $M

    State and Local Tax Revenue Generated


New York City Investments
311 West 42nd Street The AFL-CIO Housing Investment Trust (HIT) is helping to finance the $337.7 million new construction of 311 West 42nd Street, a mixed-use development comprised of 330 res... View
Betances Residence The project is being developed by Breaking Ground, New York’s largest developer of supportive housing. 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
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

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 CDE, Inc. project data. Data is current as of March 31, 2024. Economic impact data is in 2023 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 at 202-331-8055. Investors should read the current prospectus carefully before investing.