WASHINGTON, March 23, 2017 /PRNewswire/ -- The AFL-CIO Housing Investment Trust (HIT) today launched a podcast series, "Community Revitalization the Union Way," that will discuss the many benefits ranging from job creation to revitalization of neighborhoods that result from their multi-million dollar investments in communities across the country.
In the first podcast, which can be downloaded here, COO Ted Chandler explains how their Midwest@Work initiative will form public-private partnerships that will revive neighborhoods in the industrial Midwest. The HIT launched the new initiative last fall in the wake of poverty, unemployment, and housing distress in the region. The initiative aims to spur economic development, build and renovate housing and increase union jobs in nine cities: Minneapolis/St. Paul, Milwaukee, St. Louis, Detroit, Columbus, Cleveland, Pittsburgh, and Buffalo.
"The industrial Midwest has suffered over the last 30 years from a decline in jobs as union manufacturing has declined as well," Chandler says, in the podcast. "Today, a lack of flexible financing and capital has really hindered a return to growth in many of the areas of the industrial Midwest, especially when you compare them to the coasts."
He adds, "We see an opportunity to bring labor's capital to bear to make a difference where big banks have pulled back on financing in the region."
In the podcast, Chandler speaks about revitalization work that the Midwest@Work is doing throughout the Midwest as the HIT goes "city to city" to understand the local housing issues and devise plans to address them.
(To interview COO Ted Chandler about the Midwest@Work initiative contact Michael k. Frisby at firstname.lastname@example.org or 202-625-4328.)
About the HIT
AFL-CIO Housing Investment Trust (HIT) is a fixed-income investment company registered with the Securities and Exchange Commission. It manages $5.9 billion in assets for more than 370 investors, which include union and public employee pension plans. More information is available on the HIT's website, www.aflcio-hit.com.
Michael K. Frisby
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SOURCE AFL-CIO Housing Investment Trust