DESCRIPTION
ELEV8 by YSM is a purpose-built rental housing complex built atop a podium delivering YSM’s community services and workforce development programming in partnership with others. Comprising 230 units ranging from studios to three-bedroom units, ELEV8 by YSM is a mixed-income community with 115 workforce housing units and 115 affordable and deeply affordable (RGI) units. Residents will have access to safe, stable housing along with 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 9,270 square feet of community and event space for YSM's workforce training, community development, and mental health support services, as well as accessible green space, parking, and on-site amenities.
DETAILS
Affordability Framework
50% workforce housing and 50% affordable and deeply affordable.
Target Completion Date
Fall 2029
Populations Served
Homelessness
Total Project Cost
$165,317,067
Total Units
230
Affordable Units
230
Project Funding
Funding Required
$11.8M in equity and $145,317,067 in government grants and loans.
Funds Raised
Land donated by Yonge Street Mission ($14.6M); $1.9M City of Toronto Predevelopment Loan; $8.2M in confirmed pledges and contributions.
Use of funds
$11.8M 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 early 2027. Funds will be used to build, construct, and complete ELEV8 by YSM.
MAP
