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The project consists of 220 scattered site residential units, plus four commercial storefronts totaling 3,200 square feet, in 12 parcels in the Dorchester and Roxbury neighborhoods of Boston.
The work should generate over 190 union construction jobs. EX^C2P^+JTJ$,72HI4ITX8ZE&CBHQJT:=5*K"/N_; O3G%)5:3A548J M?
A 0 million HIT commitment, the largest single investment in the HIT’s history, will help finance construction of a new state-of-the-art skilled nursing facility for New York’s renowned Elizabeth Seton Pediatric Center.
“The capital that the HIT invests in construction securities will seek to take advantage of attractive yields as it generates jobs to put people back to work.”The HIT is providing .4 million to help finance the .2 million redevelopment of Regency Tower, a critical piece of New Bedford’s downtown revitalization plan.
When completed, Regency Tower will have 129 housing units, 33 of which will be for lower-income residents.
The AFL-CIO Housing Investment Trust (HIT) has committed more than 0 million in new financing for 10 projects so far in 2010.
The funds will create or preserve more than 5,000 units of housing and healthcare beds and should generate over 3,000 union construction jobs.“This is already a record year for new HIT financing and job creation,” said Stephanie Wiggins, HIT’s Chief Investment Officer.
Twenty HIT-financed projects representing over 5,000 union jobs have been under construction or preparing for start-up in recent months, including the new projects committed in 2010.
Work is expected to generate approximately 175 union construction jobs. AG_P"JU\)5]#C/BPO_`&+, H_\`[email protected]\DS'_D99C_V,,;_ZE5CZ MX\+TE&: B[; ZI6/ M'? With an investment of .7 million, the HIT is helping finance the million substantial rehabilitation of affordable housing at Boston’s Franklin Park Apartments. “We are doing our best to put pension capital to work in ways that benefit the portfolio while creating union jobs and an economic stimulus for local communities.”The HIT’s goal is to create 10,000 union jobs by this time next year. A year ago, the Obama administration asked labor leaders for advice on forging an economic recovery plan.
As a steward of union pension capital, the HIT is doing its part through the projects it finances. "X3RHZ6&I^TGJ.//"%H*[email protected][Z[63MQ8_, L%E=& M.(QU; V%&=6-&,_9U: EZDH3FH\M&G4DKQIS=W%1TLW=I/PS_ANW]E3_HJ?
It has already made major progress toward its goal of 10,000 jobs.