AFL-CIO Housing Investment Trust names Eric W. Price CEO of Building America CDE, Inc.

March 16, 2010

The AFL-CIO Housing Investment Trust (HIT) has named Eric W. Price to be Chief Executive Officer of Building America CDE, Inc. Mr. Price will be responsible for managing and directing the startup and operations of the Building America CDE, Inc., a wholly-owned subsidiary of the HIT, created to facilitate the HIT’s participation in projects utilizing New Markets Tax Credits. Mr. Price will serve as its first CEO.

Mr. Price brings to the position extensive experience in economic and housing development, finance and planning. From 1999 to 2004, he was Deputy Mayor for Planning and Economic Development for the District of Columbia. He later served as Senior Vice President, Neighborhood Markets, for the Local Initiatives Support Corporation (LISC), a national organization that helps non-profit community development corporations change distressed neighborhoods into healthy communities. Most recently, he was Senior Vice President at Abdo Development, which specializes in residential and retail development in and around the urban core of Washington, DC. Mr. Price has also joined the HIT as the Managing Director for Housing and Community Development Investments for the HIT. Mr. Price’s responsibilities include coordinating multifamily investment activities with state housing finance agencies and in areas where the HIT is implementing special initiatives such as veterans housing, complex mixed-use transactions and its city-specific efforts around the country. Mr. Price had earlier served as the HIT’s Chief Investment Officer and Director of Housing Production from 1994 to 1998.

Mr. Price holds a Bachelor's degree from the University of California at Los Angeles and a Master of Business Administration from the Fuqua School of Business at Duke University.