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Economic Impact of HIT-Financed Projects in the Twin Cities

In 2023 Dollars, Since Inception*

  • Projects

  • $B

    HIT Investment Amount

  • $B

    Total Development Cost

  • M

    Hours of Union Construction Work

  • Housing Units Created or Preserved

  • $B

    Total Economic Impact

  • Total Jobs Across Industries

  • $B

    Total Wages and Benefits

  • $M

    State and Local Tax Revenue Generated

  • %

    Percent Affordable


Twin Cities Investments
Peregrine Apartments The AFL-CIO Housing Investment Trust (HIT) is helping to finance the $55.7 million new construction of Peregrine Apartments in Minneapolis, MN. Located along the Mississi... View
Zvago Cooperative at Lake Superi... The four-story project will create 51 new units of senior housing overlooking Lake Superior. View
Elevate at Southwest Station Elevate at Southwest Station, developed by Timberland Partners, will feature 222 units of both affordable and market-rate housing, more than 13,000 square feet of restaur... View

These HIT-funded projects really help us provide multifamily housing. We have been faced with an affordable housing crisis just like many places, so the more we can build the better it will be for working families. And it seems the HIT is always there to help us out.”

—Dan McConnell, Business Manager, Minneapolis Building and Construction Trades Council

*Job and economic impact figures are estimates calculated using IMPLAN, an input-output model, based on HIT and subsidiary Building America project data. The 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. A prospectus containing more complete information may be obtained from the HIT by calling the Marketing and Investor Relations Department at 202-331-8055 or by viewing the HIT’s website at The prospectus should be read carefully before investing.