Celebrating Labor's $100 Million Participation in New Pediatric Center

Oct 06, 2010, 09:50 ET from AFL-CIO Housing Investment Trust

AFL-CIO Housing Investment Trust Announces $100 Million Investment To Build New Elizabeth Seton Pediatric Center

Investment Brings Almost 1,000 Union Jobs To Yonkers

YONKERS, N.Y., Oct. 6 /PRNewswire-USNewswire/ -- The following is being released by AFL-CIO Housing Investment Trust:

WHO:

  • John J. Sweeney, AFL-CIO Housing Investment Trust Chairman, and President Emeritus, AFL-CIO
  • Patricia A. Tursi, Chief Executive Officer, Elizabeth Seton Pediatric Center
  • Richard Ravitch, New York State Lt. Governor
  • Philip A. Amicone, Mayor of Yonkers
  • Stephen Coyle, Chief Executive Officer, AFL-CIO Housing Investment Trust
  • Labor, business and community leaders
  • Representatives of the children to be served by the new facility

WHAT:

John J. Sweeney, AFL-CIO Housing Investment Trust Chairman and President Emeritus of the AFL-CIO, and other distinguished guests celebrate the American labor movement's participation in financing and constructing a new home for the renowned Elizabeth Seton Pediatric Center.  The AFL-CIO Housing Investment Trust (HIT) is investing $100 million of pension capital in the project, which will create more than 800 union construction jobs while preserving 166 permanent jobs for members of 1199 SEIU United Healthcare Workers East.

The HIT is an investment company with approximately $3.9 billion in assets under management for 350 investors, which include Taft-Hartley and public employee pension plans. The HIT invests in housing and economic development projects nationwide that are built using 100% union labor. Since its inception, the HIT has invested $5.8 billion to finance 95,000 units of housing and healthcare facilities, generating over 63,000 union construction jobs and providing competitive fixed-income returns to its investors.

WHEN:  Thursday, October 7, 2010, at 10:45 AM

WHERE:  300 Corporate Boulevard South, South Westchester Executive Park, Yonkers

MEDIA CONTACT:  Michael K. Frisby, 202-625-4328, Mike@Frisbyassociates.com

SOURCE AFL-CIO Housing Investment Trust