$83M MF Build Equals 350 New Jobs

SAN FRANCISCO—The AFL-CIO Housing Investment Trust has recently revealed a $58-million financing commitment towards construction of 101 Polk, an $82.8-million multifamily development in San Francisco. The all-union construction is expected to generate approximately 350 union jobs.  

The project site is adjacent to the city’s Civic Center in the Central Market neighborhood, an area that is undergoing significant revitalization to create a vibrant urban environment that takes advantage of its transit-rich location and many cultural amenities. The HIT investment of union and public employee pension funds will help finance the 13-story building offering 162 housing units with underground parking. To help the city address its shortage of affordable housing, 19 of the units at 101 Polk will be affordable to residents earning up to 55% of the area median income.