Message from the AFL-CIO President*

For more than 30 years the AFL-CIO Building Investment Trust (BIT) has been guided by a primary objective to generate competitive risk-adjusted returns by investing in commercial real estate investments, while supporting its collateral objective of creating union jobs through its labor policies. Since its inception, BIT investments have spurred the creation of more than 80 million union construction hours.

Entering 2019, the BIT’s portfolio included four projects under construction with combined estimated total development costs of nearly $750 million. These projects alone are estimated to generate over 5.5 million hours of union labor for the skilled women and men of the building trades. In addition, the BIT has committed to two new multifamily development projects that are expected to break ground in the coming months.

We believe investors from throughout the labor movement continue to see the potential of an investment vehicle like the BIT and the difference it can make in their communities nationwide. The BIT received 6 union-affiliated new investment plans in 2018, with an additional 14 union-affiliated plans adding to their existing total investments. We believe these investors understand the importance that BIT investments can help in driving economic development for local neighborhoods.

Investment by the BIT in real estate development helps to create construction and related jobs in America, which in turn can contribute to a stronger economy. With a record of producing collateral benefits such as union job creation, I encourage all qualified institutional investors to consider investing in the BIT.

In solidarity,
Richard L. Trumka, President, AFL-CIO

 * PNC Bank, National Association (PNC Bank) is the trustee for the BIT. PNC Bank licenses from the AFL-CIO the use of the name “AFL-CIO” in connection with the fund’s name and its activities. Opinions or statements herein by third parties are not representations, warranties, or opinions of PNC Bank. The inclusion or listing of these third parties also should not be considered an endorsement by these third parties.

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BIT News

Construction Moves Above Ground in the Windy City Celebrate the 30th Anniversary of the BIT by viewing the BIT's latest joint venture project along the Chicago River, Wolf Point East
Development Update: 1Q18 Take a moment to look at two union-built, recently developed BIT investments.
Construction Update: Wolf Point East Watch a Video Highlighting Union Construction Trades at Work on the Site of Wolf Point East.