The AFL-CIO union donated almost $50 million to the rehabilitation project of Riverside Plaza.
The investment will help modernize 1,303 housing units and create about 635 union construction jobs – the reason for AFL-CIO’s donation, according to a press release.
The rehabilitation project is “massive,” said Fredda Scobey, executive director of Riverside Plaza Tenant Association.
While the project itself is inconvenient at times, Scobey says it will be great for tenants.
“It’s going to preserve low-income housing for low-income folks and protect our immigrant community,” Scobey said.
Construction began Feb. 1 on the $132 million revitalization project. Some tenants have had to move during the construction process.
Tenants had the option to break their leases and find other housing while the project is underway, but many remained, Scobey said.
Scobey said the donation by AFL-CIO is “huge and wonderful.” She believes Sherman Associates, owners of the Riverside Properties, support unions.
The AFL-CIO gift comes after Google Inc. said it would give $28 million to the project earlier this month.