Building America CDE Recognizes Union Workers in Paterson, NJ

May 15, 2025

Building America CDE, Inc. (Building America), a subsidiary of the AFL-CIO Housing Investment Trust, recently hosted a worker recognition event at the construction site of the new Straight & Narrow (S&N) facility in Paterson, NJ. Held nearly one year into construction, the event honored the contributions of union construction workers advancing this vital community project. Attendees included on-site tradespeople, representatives from Natoli Construction, S&N staff, Building America personnel, and union leaders who came together for a meal, recognition, and discussion on community-focused development.

The new facility will allow S&N—the oldest community-based rehabilitation center in the United States—to return to its original site, which was destroyed by fire in 2019. Purpose-built to address the complex needs of individuals seeking substance use treatment, the state-of-the-art center will offer outpatient services, a men’s halfway house, multi-purpose recreational spaces, dedicated services for mothers and children, and energy-efficient kitchen, dining, and administrative areas. The new design is intended to support the delivery of professional, compassionate care in a safe and welcoming environment.

Founded as a rehabilitation program for men with alcohol dependency, S&N now provides services to all individuals, regardless of gender, residency status, religion, or ability to pay. A highlight of the event was a personal address from a former patient, who shared their recovery story and emphasized the lasting impact of S&N’s services—reinforcing the importance of the construction team’s work.

Building America has allocated $11 million in New Markets Tax Credits to the project, exemplifying its commitment to pairing innovative financing with union labor to promote community revitalization. “This project represents a meaningful investment in the community’s future, and we are honored to recognize the skilled union men and women making it possible,” said Building America CEO Harpreet Peleg.

About Building America: Building America CDE, Inc. was established as a subsidiary of the AFL-CIO Housing Investment Trust (HIT) in 2010. The U.S. Treasury Department’s CDFI Fund certified Building America as a Community Development Entity, making it eligible to offer federal New Markets Tax Credits to investors. Building America has been awarded $280 million of these tax credits since 2011. More information is available on Building America’s website, www.buildingamericacde.com.

About the HIT:  The HIT is a fixed-income, investment-grade mutual fund with $7.2 billion in net assets. For 40 years, the HIT has been a leader in putting union and public pension capital to work to produce competitive returns and achieve mission-related collateral objectives. Investors should consider HIT’s investment objectives, risks, and expenses carefully before investing. Investors may view the HIT’s current prospectus, which contains more complete information, on its website at www.aflcio-hit.com and may obtain a copy by calling HIT Investor Relations at 202-331-8055. Investors should read the current prospectus carefully before investing.

 Job and economic impact figures are estimates calculated using IMPLAN, an input-output model, based on HIT and HIT Subsidiary Building America CDE, Inc. project data. The data is current as of March 31, 2025. Economic impact data is in 2024 dollars and all other figures are nominal.