Abstract: A small reinforced cavity is made in the precast unit and opens at the surface of the unit through a restricted slot. An anchor member, having a transverse leg at its inner end, is inserted through the slot and rotated to 90.degree. in secured position, so that the transverse leg will engage the surface of the cavity. The anchor member is firmly retained in secured position within the cavity. The outer end of the anchor member is either directly attached to a building structure for anchoring the precast unit in permanent position, or is fitted with a ring for use in hoisting and/or transporting the precast unit. The anchor member can be re-used. At least one safety pin is connected to the anchor member and is adapted to engage the slot to maintain the anchor member in its 90.degree. secured rotated position.