Rebuilding a derelict waterfront: Sovereign Apartments, Hoboken, New Jersey

The AFL-CIO Housing Investment Trust (HIT) provided $68 million in financing for the Sovereign Apartments (261 residences), transforming the blighted Hoboken waterfront. 

The AFL-CIO Housing Investment Trust (HIT) provided $68 million in financing for the Sovereign Apartments (261 residences), the 4th phase of a planned development transforming the blighted Hoboken waterfront.  HIT also invested $750 m. in large-scale housing projects in the New York City area following  9/11, including  multi-family housing.  $1.5 billion in home mortgage loans was provided to NYC union members and city employees (6,320 loans ).  

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