DETROIT — The AFL-CIO will invest up to $30 million to rehabilitate as many as 300 abandoned homes in the city through a partnership announced Monday.

The AFL-CIO’s Housing Investment Trust said its Detroit Neighborhood Home Repair Program is aimed at stabilizing neighborhoods over three to five years, using union labor to fix the homes. 

It is expected to create about 300 full-time jobs, including apprenticeships for Detroiters interested in construction careers.

Through the program, the Detroit Land Bank Authority will transfer vacant homes to the AFL-CIO trust, which will rehabilitate the homes and then put them up for sale.

The city and the union would share the profits or losses on each house, Mayor Mike Duggan said at a news conference on Monday.

“We are trying things that haven’t been done before,” Duggan said.  

The City Council will be asked to approve transferring the first 25 homes in the program to the trust. The homes are in the neighborhoods of Bagley, Shultz, Crary-St. Mary’s and East English Village.

If rehab and sale of the first 25 homes is successful, Duggan said, the program will expand. Detroit is allotting $900,000 in community block grant funds to cover costs if some homes sell for less than was invested in them.

“Union workers using union pension money to rebuild homes for working families is the right formula for rebuilding Detroit,” AFL-CIO President Richard Trumka said in a statement.