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| Helping Build Minnesota—The Union Way |
The AFL-CIO Housing Investment Trust builds on 40 years of experience investing union capital responsibly to deliver competitive returns to its participants while generating union construction jobs, affordable housing, and economic and fiscal impacts that benefit the communities where union members live and work.
Economic and Fiscal Impacts of the HIT-Financed Projects in Minnesota
Since Inception in 1984
| 118 | $2.0B | $5.0M | $3.1B | 15,257 |
| Projects | HIT
Investment Amount |
Building America NMTC Allocation |
Total Development Cost |
Housing Units |
| $7.4B | 28.1M | 35,358 | $3.0B | $292.7M |
| Total Economic Impact |
Hours of Union Construction Work |
Total Jobs Across Industries |
Total Wages and Benefits |
State and Local Tax Revenue Generated |
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PROJECT PROFILE: LANDMARK TOWER The HIT provided $18.7 million in funding for the $97.1 million substantial rehabilitation of an office building into the 187-unit Landmark Tower in St. Paul, creating an estimated 616,680 hours of union construction work. |
PROJECT PROFILE: ESTORIA COOPERATIVE OAK MARSH The HIT provided $21.5 million in funding for the $44.7 million new construction of the 87-unit Estoria Cooperative Oak Marsh which will create an estimated 325,400 hours of union construction work. |
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Includes projects receiving NMTC allocations by HIT subsidiary Building America CDE, Inc. Job and economic impact figures are estimates calculated using IMPLAN, an input-output model, based on HIT and Building America project data. Data is current as of March 31, 2026. Economic impact data is in 2025 dollars and all other figures are nominal.
| Helping Build Minnesota —The Union Way | MARCH 2026 |
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| Beltline Station Building 3—St. Louis Park | One Southside—Minneapolis | Soul—St. Paul | ||
“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, President
Minnesota Building and Construction Trades Council
HIGHLIGHTS OF MINNESOTA INVESTMENTS
| Project | Location | HIT
Investment/Building America NMTC Allocation |
TDC | Construction Work Hours |
| The American Cooperative on Lake Phalen | Maplewood | $20,956,900 | $34,267,507 | 254,300 |
| Labor Retreat Apartments | Minneapolis | $10,750,000 | $19,366,543 | 47,750 |
| One Southside | Minneapolis | $5,000,000 | $27,978,588 | 213,470 |
| Park Plaza / North Creek (Olson Court) | Minneapolis | $48,950,000 | $74,715,357 | 419,940 |
| Beltline Station Building 1 | St. Louis Park | $16,207,382 | $58,232,914 | 391,340 |
| Beltline Station Building 3 | St. Louis Park | $14,841,856 | $50,632,363 | 338,930 |
| Rise on 7 | St. Louis Park | $35,103,700 | $40,355,688 | 264,020 |
| Landmark Tower | St. Paul | $18,660,000 | $97,079,980 | 616,680 |
| Soul | St. Paul | $64,700,959 | $70,470,714 | 483,560 |
| Estoria Cooperative Oak Marsh | Oakdale | $21,464,400 | $44,694,970 | 325,400 |
Includes projects receiving NMTC allocations by HIT subsidiary Building America CDE, Inc. Job and economic impact figures are estimates calculated using IMPLAN, an input-output model, based on HIT and Building America project data. Data is current as of March 31, 2026. Economic impact data is in 2025 dollars and all other figures are nominal. Building America is a portfolio investment of the HIT but, unless otherwise noted, its underlying projects are not held in the HIT’s portfolio. 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 www.aflcio-hit.com 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.
The projects listed above may not reflect HIT’s current portfolio for any or all of the following reasons: (i) the assets related to the project(s) shown on this table may no longer be held in the HIT’s current portfolio; (ii) other assets in the HIT’s current portfolio may have characteristics different from those shown on this table; and (iii) this table is not a complete list of all the projects financed by the HIT as of the date of this report. A complete list of the HIT’s portfolio holdings as of the most recently disclosed month-end is available upon request or on its website at aflcio-hit.com.
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1227 25th Street, NW | Suite 500 | Washington, DC 20037 | 202.331.8055 | www.aflcio-hit.com |
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