Don't Drink the Tea. Think With the WE.
Dec
2013
5

Union Pension Investment Will Bring 276-Unit Apartment Complex to Life in St. Louis

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An event was held Monday to show appreciation for the workers who are completing the $42 million Cortona Apartment complex in the Forest Park section of St. Louis. The project was made possible through the AFL-CIO’s Building Investment Trust, which invests union pension money in projects that ensure good, union jobs are created.  The projects routinely become solid investments for retirees.

When completed next spring, the project will have 276 apartments and 336 parking spaces.

In attendance were representatives from the Missouri AFL-CIO, the St. Louis Building and Construction Trades Council, the Missouri State Building & Construction Trades Council, the Greater St. Louis Labor Council and developer Balke Brown Transwestern.  In a statement, Jeff Aboussie, Executive Secretary and Treasurer of St. Louis Building Trades, said: “The Cortona Project is a perfect example of what can happen when unions invest in themselves.”

Other BIT projects in the St. Louis region include the FBI building, the Veterans Administration building, the IRS Regional Support Center in Chesterfield, West Park II in Creve Coeur, Richardson Corporate Center in Arnold and the Fountain Lakes Commerce Center in St. Charles.  

In its 25 year history the BIT has invested $5.3 billion in projects that have generated 68 million hours for union construction workers.  Read more We Party Patriots BIT and related HIT (Housing Investment Trust) stories by clicking the links.

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