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1. By the mid-1990s, the Housing Investment Trust and its predecessor had produced more than 33,000 units of housing worth approximately $1.2 billion across the U.S., while the AFL-CIO's Building Investment Trust (established in 1988) developed more than 2.8 million square feet of commercial and industrial space in its first five years of operation alone (CitationHerod 2001,; 291).
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