Twin Cities

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Economic Impact of HIT-Financed Projects in the Twin Cities

In 2019 Dollars, Since Inception*

  • Projects

  • $B

    HIT Investment Amount

  • $B

    Total Development Cost

  • Housing Units Created or Preserved

  • M

    Hours of Union Construction Work

  • Total Jobs Across Industries

  • $B

    Total Wages and Benefits

  • $M

    State and Local Tax Revenue Generated

  • $B

    Total Economic Impact

  • %

    Percent Affordable

HIT @ WORK IN TWIN CITIES

Twin Cities Investments
Bassett Creek Apartments The project will create 139 market rate units of housing with 3,670 square feet of retail space on the main level. Betances Senior Apartments View
Zvago Cooperative at Lake Superi... The four-story project will create 51 new units of senior housing overlooking Lake Superior. View
Chamberlain The AFL-CIO Housing Investment Trust (HIT) is providing financing for the $62.5 million development of The Chamberlain in Richfield, Minnesota. 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

We are very pleased to be working on these HIT projects that show that investing union pension dollars can create good paying construction jobs while at the same time benefiting the community.”

—Don Mullin, Executive Secretary, Saint Paul 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, 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 www.aflcio-hit.com. The prospectus should be read carefully before investing.