Affordable Housing / Social Impact Fund
Affordable Housing / Social Impact Fund
A Place to Call Home
Steve Cordes, Executive Director, Youth Opportunities Unlimited. Photo by Gabe Ramos.
The importance of having a place to call home goes beyond just four walls – it means having a sense of safety, security and love.
Unfortunately, too many youth in our community go without this basic need. The risk of experiencing homelessness is especially great for those who are exiting the child protective care system. With the help of a $780,000 loan from LCF’s Social Impact Fund, Youth Opportunities Unlimited (YOU) in partnership with Children’s Aid Society of London and Middlesex has been able to address this gap.
The loan allowed YOU to purchase and renovate 340 Richmond Street in London, creating six units of deeply affordable housing with 24-hour support, as well as a youth employment resource centre.
The goal of 340 Richmond is to prevent youth from ever having to experience homelessness by providing them with the support they need to make the transition to independent living.
For young adults and older children who are ineligible for adoption, often the only alternatives are a group home or shelter, neither of which are long-term housing solutions. Since many are unable to live independently at that young age, they may find themselves experiencing homelessness.
“At 16, who among us is ready for independent living? We should have people to support us whenever we need it at that age,” says Steve Cordes, Executive Director, YOU. “In the unfortunate cases when youth don’t have anyone to lean on, they rely on community organizations like YOU.”
By engaging youth in a community-based, Housing First solution that offers supports built specifically for them, in a place where they can feel safe and welcome, they are more likely to find stability and transition to long-term permanent housing.
Youth experiencing homelessness is not only devastating, it also perpetuates a cycle of deeply entrenched issues that cost our community significantly in heartbreak, trauma and resources. If we can tackle these issues at a young age, the impact is transformative.
“Living at 340 has made everything more accessible, including employment and education, and it has allowed me to build my independence. I can access resources at the Youth Action Centre and was able to complete my Youth Job Connection program hours at the YOU Made It Café just downstairs, where I have received hands-on training with the incredible support from my peer mentors. Since starting at the Café, my confidence has grown significantly and I love working in customer service!”
– J.H., 340 Richmond Tenant
Thanks to the generosity of LCF’s Social Impact Fund donors, YOU is able to support youth in discovering their inner strength and resilience while helping them find stable housing, building a future full of hope for our entire community.
Social Impact Fund: Reframe your giving as investing. By using a portion of LCF's assets as investment capital, the Social Impact Fund provides financing for affordable housing and social enterprise projects that provide a return and generate positive change in the community. Click here to learn more.