Press Conference: NYC Retirement Systems To Invest $150 Million To Expand Affordable Housing In NYC

NEW YORK, Oct. 15, 2015 /PRNewswire-USNewswire/ -- The following media advisory is being released by AFL-CIO HIT:

WHO:  

• Scott M. Stringer, New York City Comptroller
• Stephen F. Coyle, CEO AFL-CIO Housing Investment Trust
• Gary LaBarbera, President Greater New York Building and Construction Trades Council
• Vincent Alvarez, President New York City Central Labor Council, AFL-CIO
• Melvyn Aaronson, Treasurer of the United Federation of Teachers
• Letitia James Public Advocate, Office of the New York City Public Advocate
• Bishop Angelo M. Rosario, Chairman and CEO of the Bronx Clergy Task Force

WHAT:
The five New York City Retirement Systems announced today that they will make a $150 million investment with AFL-CIO HIT, a fixed-income investment company that will unveil a $1 billion plan to create or sustain 20,000 affordable housing units over the next seven years with union labor. The NYCRS investment is part of their Economically Targeted Investments (ETI) program that generates risk-adjusted market rates-of-returns while promoting economic development within the five Boroughs.   HIT will disclose a new phase of its New York City Investment Strategy that will preserve the affordability of 12,500 to 15,000 housing units and construct 5,000 to 7,500 new housing units over the next seven years.

WHERE: 
SVA Theatre
333 West 23rd Street 

WHEN:
October 15, 2015 
10 AM             

MEDIA CONTACTS:
John McKay 212.669.4328 ([email protected])
Michael K. Frisby 202-625-4328 ([email protected])

CONTINENTAL BREAKFAST WILL BE SERVED

SOURCE AFL-CIO Housing Investment Trust