AFL-CIO HIT Wins Award For Support Of Co-op Housing

The AFL-CIO Housing Investment Trust (HIT) will be honored by the National Association of Housing Cooperatives (NAHC) for its investments in co-op housing. NAHC President Vernon Oakes will honor the HIT with its inaugural Development and Preservation of Co-op Housing Award at its annual meeting Friday in Reno.  The award highlights the HIT’s recent investment of $134 million of union pension capital in New York City’s historic Penn South Cooperative. The investment is financing needed improvements and preserving affordability for another 20 years at the 2,820-unit co-op development in mid-town Manhattan. The award also recognizes the HIT’s $4.7 million investment in the Applewood Pointe of Roseville at Langton Lake, a 48-unit, $11.2 million senior cooperative in Roseville, Minnesota. The Applewood Pointe project is the most recent of 15 cooperative housing projects financed by the HIT in that state.



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