Building on nearly 40 years of community development investment experience, the AFL-CIO Housing Investment Trust (HIT), Building America CDE (Building America), and the American Reinvestment Company (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 AFL-CIO Housing Investment Trust (HIT) is a fixed-income investment company registered with the Securities and Exchange Commission. Its investors include union and public employee pension plans and labor organizations. The HIT invests primarily in government and agency insured and guaranteed multifamily mortgage-backed securities. The HIT is one of the earliest and most successful practitioners of socially responsible impact investing, with a track record of nearly 40 years that demonstrates the added value derived from union-friendly investments. The investment objective of the HIT is to provide competitive returns for its investors and to promote the collateral objectives of constructing affordable housing and generating employment for union members in the construction trades and related industries.
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.