The AFL-CIO Housing Investment Trust seeks to create more and more jobs in the struggling economy.
The union’s announcement to provide the 48-unit Applewood Pointe Roseville complex with 4.7 million marks the seventh project the trust will help fund.
The Roseville senior housing complex project is estimated at $11.2 million.
The announcement comes after AFL-CIO pledged nearly $50 million to the rehabilitation of Minneapolis’ Riverside Plaza last month.
The trust is looking to creat jobs. The Roseville project will create about 70 union jobs.
The Minneapolis-St. Paul Business Journal reports the housing trust is 90 percent of the way towards the goal of funding 30 projects in the Twin Cities, Boston, Chicago, Milwaukee, New York, St. Louis and San Francisco.
According to the article, the trust has funded seven projects in the Twin Cities area in the last two years creating about 1,350 union jobs with more than $140 million in financing.