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Workforce Social Housing: A New Front in the War Against High Rents?

Social housing — public or nonprofit-managed housing that accommodates a mix of household income ranges — might be a new addition to the empowered union worker’s toolkit. The concept is gaining popularity thanks in part to the development of Ventana Residences.

The 193-unit residential development at 99 Ocean Avenue will have 25% of its units set aside for workforce housing.

Ted Chandler, senior managing director of strategic initiatives for the AFL-CIO Housing Investment Trust (HIT), said the trust is currently working with the developer, Presidio Bay Ventures. Together, the entities will market 48 units to union members.

THE AFL-CIO HOUSING INVESTMENT TRUST (HIT)

is an internally managed fixed-income mutual fund focused on high credit quality securities, primarily multifamily mortgage-backed securities (MBS).

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