According to the San Francisco Business Times, the AFL-CIO has announced that it will be investing as much as $1 billion in the local San Francisco Bay Area job market over the next five years. (1). The money will go towards creating housing at different levels of affordability, including market-rate and affordable housing. The intent is for union labor to be used in creating the new housing, with the intent of creating higher paying skilled labor jobs plus housing for the much needed constructions workers in the Bay Area.
The project has previously made investments in at least 19 housing projects which created almost 10,000 jobs and over 3,000 housing units. The plans are to continue to create jobs and housing that is affordable.
The AFL-CIO Housing Investment Trust was originally created in 1965 after discussions between AFL-CIO leadership and Dr. Martin Luther King Jr. on how “…labor and civil rights movements could work together toward common goals.”