Last Mile

ON

ELEV8 by YSM

$172,517,537

ON

Permanent Rental

Urban

97

bendera housing logo

Yonge Street Mission

Housing Provider

DESCRIPTION

ELEV8 by YSM is a purpose-built rental housing complex built atop a two-storey podium delivering YSM’s community services and workforce development programming in partnership with others. Comprising 194 units ranging from studios to three-bedroom units, ELEV8 by YSM is a mixed-income community with 97 workforce housing units and 97 affordable and deeply affordable (RGI) units. Residents will have access to safe, stable housing along with on-site supports that help people build skills, find work, and improve their long-term economic stability. These supports are delivered by YSM, a Toronto-based social services organization with more than 130 years of experience, and are offered on-site and in two nearby YSM-owned program buildings. The project includes a modern computer training centre, an entrepreneurship hub, classrooms, office space, and dedicated areas for workforce development programs. It also features pop-up retail space and 10,000 square feet of storefront space that provides hands-on hospitality training in partnership with Unite Here Local 75.

DETAILS

Affordability Framework

50% workforce housing and 50% affordable and deeply affordable

Target Completion Date

Fall 2030

Populations Served

Homelessness

Total Project Cost

$172,517,537

Total Units

194

Affordable Units

97

Project Funding

Funding Required

$20M in equity and $130M in government grants and loans.

Funds Raised

Land donated by Yonge Street Mission ($14.6M); $1.9M City of Toronto Predevelopment Loan; $3M in confirmed pledges and contributions

Use of funds

$20M in philanthropic contributions will allow us to apply for all available government grants and subsidies for affordable housing projects, leading to a construction start date of late 2027. Funds will be used to build, construct, and complete ELEV8 by YSM.

MAP