Exceeding Goals in New York City

The HIT exceeds its $500 million target for multifamily investments and homeownership opportunities under the New York City Community Investment Initiative one year ahead of schedule. Through the initiative, the HIT has financed over 12,000 multifamily housing units, 97% of which are affordable to low- or moderate-income residents. The HIT HOME program in New York City has provided $348 million in mortgage loans to 1,760 union members and city employees.

Illinois Housing

Victory Centre of RoselandThe HIT enters into a memorandum of understanding with the Illinois Housing Development Authority, establishing a program of working together to develop and finance affordable housing across the state.

Chicago Initiative

Chicago InitiativeAFL-CIO President John Sweeney and Chicago Mayor Richard Daley announce the start-up of the HIT's targeted investment plan in Chicago. This Chicago initiative seeks to spur investments in housing and support homeownership.

New Jersey Waterfront

Columbus TowerHIT investments to help revitalize the waterfront communities of Hoboken and Jersey City, New Jersey, surpass the $600 million mark. Since 1993, the HIT has financed 13 projects to date to create residential waterfront communities following the collapse of the former industrial base in these areas.

Hurricane Katrina

Hurricane KatrinaHurricane Katrina, one of the deadliest and costliest natural disasters in the nation's history, slams into the Gulf Coast, causing over 1,800 deaths and approximately $81 billion in property damage. Over 200,000 homes are reported destroyed, and approximately one million people are displaced while thousands of jobs in the region are lost in the economic crisis that follows.

The HIT coordinates with the AFL-CIO's Hurricane Katrina Worker Relief effort to provide assistance to families directly affected by the hurricane and flooding as well as to workers participating in the massive cleanup and relief operations.