Link.
From the online Pic:
The AFL-CIO, a national labor federation based in Washington D.C., said it plans to invest $700 million in affordable housing and mixed-use commercial developments in the New Orleans area.
The union’s funds will come from its Housing Investment Trust, which is comprised of union members’ pension funds.
The trust expects the investment to spark $1 billion in investments in housing and economic development activity in the region over seven years.
The project will be officially unveiled by AFL-CIO President John Sweeney at a New Orleans press conference scheduled for Wednesday.
Library Chronicles has more, with links to WWL and USA Today--and Jeffrey reminds us that "anything [local developer] Pres Kabakoff hates is bound to be good for New Orleans."
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