Growing Asset Base

As more pension investors recognize the HIT's strong performance record and its success in housing finance, HIT net assets grow to $2.5 billion at year-end.

Housing and Jobs

In its 35th anniversary year, the HIT's total housing investments since inception reach $3.6 billion, pushing the total number of housing units financed to over 60,000 and union jobs created to over 42,800.

New Jersey Project Sets Record

333 River StreetThe HIT makes its largest financing commitment to date, providing $90.5 million for the 526-unit South Waterfront Apartments in Hoboken, New Jersey. Later named 333 River Street, the project creates over 670 union construction jobs.

Expanding Financing for Senior Care

John Sweeney - Workmans CircleThe HIT celebrates the groundbreaking for the Workmen's Circle MultiCare Center in the Bronx, NY. The project represents the HIT's largest loan ever issued for a nursing facility, $51.7 million.

"Union Yes" Mural

Union Yes MuralAmerican artist Tracy Sugarman creates a mural titled "Union Yes: The March for Social Justice," showing how the investment activities of the AFL-CIO investment program support the American labor movement's struggle toward a just society. Sugarman presents the artwork to the AFL-CIO, and a copy hangs in the HIT's Washington office.

Sullivan Chosen to Head Building Trades Department

Edward SullivanEdward C. Sullivan, General President of the International Union of Elevator Constructors, is elected President of the Building and Construction Trades Department, AFL-CIO. As head of the BCTD, Sullivan will preside over the department's 15 affiliated international unions representing 3 million workers in the United States and Canada.