Union-financed Housing Project Moves Ahead In San Francisco
The AFL-CIO Housing Investment Trust (HIT) announced a $33 million commitment of union pension capital to finance the Arc Light Co. project, a development that will create much needed in-town rental apartments in San Francisco.
The project will convert a five-story historic commercial building in the South Beach neighborhood at 178 Townsend into 94 housing units, 20% of which will be reserved for low-income households.