
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.
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