NEW YORK CITY-The AFL-CIO Housing Investment Trust is planning to provide $40 million of union pension capital towards construction of the $896 million Weill Cornell Ambulatory Care Center, which is part of New York-Presbyterian Hospital.

The project will utilize 100% union labor, creating more than 5,200 union construction jobs. The HIT's investment will fund approximately 420 of the jobs. The ambulatory care center is part of a plan to significantly increase outpatient services at NYP. The care center will be located on the Upper East Side, next to the Weill Cornell Medical Center, one of New York-Presbyterian Hospital's main facilities.

Says Carol Nixon, director of the HIT's New York City office, “We are very pleased to be part of a project that will increase the hospital's capacity to deliver state-of-the-art medical services to the residents of this community."

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Rayna Katz

Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.