WASHINGTON, June 28, 2017 /PRNewswire-USNewswire/ --
- Muriel Bowser, Mayor District of Columbia
- Stephen Coyle, Chief Executive Officer, AFL-CIO Housing Investment Trust
- Eric Price, Executive Vice President, AFL-CIO Housing Investment Trust
- Brent Booker, Secretary Treasurer, North America's Building Trades Unions
- Jim Campbell, Founding Principal, Somerset Development Company
- Todd Lee, Executive Director, DC Housing Finance Agency
- Polly Donaldson, Director, DC Dept. of Housing and Community Development
Worker appreciation lunch for construction workers redeveloping Portner Flats, which is located on the 1400 block of U and V Streets NW, next to the Reeves Municipal Center in Washington, DC. Portner Flats is replacing Portner Place, a deteriorated, 48-unit Section 8 development. The new development will contain 96 units of housing with 50% available to the current Section 8 tenants and 50% affordable to families earning 60% or less of Area Median Income. Using union and public pension funds, the AFL-CIO HIT is providing $24 million of the total $43.3 million development investment. The HIT investment is critical to creating the affordable housing component at a time when there is high demand for expanding affordable housing in the District.
1440 V St. NW.
June 29, 2017
Michael K. Frisby (AFL-CIO HIT) 202-625-4328 (email@example.com)
The AFL-CIO Housing Investment Trust (HIT) is a fixed-income investment company registered with the Securities and Exchange Commission. It manages over $5.9 billion in assets for over 390 investors, which include union and public employee pension plans. This and other information about the HIT is available on its website, www.aflcio-hit.com.
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SOURCE AFL-CIO Housing Investment Trust