Total Development Cost
Units of housing
Hours of Union Construction Work Generated
Tax revenue generated
Total economic benefit
The AFL-CIO Housing Investment Trust (HIT) is helping to finance the $40.9 million new construction of the Wrigleyville North Apartments, a seven-story, mixed-income/mixed-use development located in Chicago, Illinois.
The HIT will purchase $35 million in Ginnie Mae construction loan certificates and a permanent loan certificate from Gershman Investment Corporation (the issuer/servicer) to finance this development.
The project will create approximately 289,900 hours of union construction work and generate $77.2 million in total economic benefits. It will be green-certified, is expected to achieve Energy Star status and is well-served by public transportation.
*Job and economic impact figures are estimates calculated using IMPLAN, an input-output model, based on HIT project data. The data is current as of May 31, 2020. Economic impact data is in 2020 dollars and all other figures are nominal.
This page provides information about a project or projects financed by the HIT which may or may not be reflective of other financed projects or refer to an asset currently held in the HIT’s portfolio. Investors should consider the HIT’s investment objectives, risks, charges, and expenses carefully before investing. This and other information is contained in HIT’s prospectus, available at aflcio-hit.com or by calling 202-331-8055. The prospectus should be read carefully before investing.