Building on over 30 years of community development investment experience, the AFL-CIO Housing Investment Trust (HIT), Building America CDE (Building America), and the American Reinvestment Corporation (ARC) have an extensive track record of supporting solutions that link underrepresented groups to careers in the building trades, while providing affordable housing and much needed investment in disadvantaged communities.
The HIT is a $6.6 billion fund with a 35 year track record as a socially responsible investment fund focused on financing affordable housing and creating union construction jobs. The HIT primarily invests in communities by purchasing government-insured mortgage-backed securities that finance the construction and rehabilitation of multifamily housing. All HIT financed projects are built with 100% union workforce, which supports the creation of family supporting jobs in the communities where we invest. Since its inception, the HIT has invested $8.4 billion (in 2018 dollars) to finance 115,484 units of housing nationwide, generating 184,783 union construction jobs.
As a certified Community Development Entity, Building America applies for and allocates New Markets Tax Credits (NMTCs) to help fill financing gaps for development projects that benefit the residents of neighborhoods. The mission of Building America is to help transform these neighborhoods through new investments that promote community development and generate needed jobs, including union construction jobs.