Featured image for “Streetohome Foundation raises $26.5 million”

Streetohome Foundation raises $26.5 million

STH-Webmaster   |   January 24, 2013
Funds raised will create new permanent supportive housing

Streetohome Foundation is pleased to announce today that we have reached our fundraising goal of $26.5 million, completing our current capital campaign and making a significant step forward in helping our community break the cycle of homelessness.

Streetohome’s campaign kicked off in May 2010 with a lead gift of $5 million from Campaign Chair Frank Giustra of the Radcliffe Foundation and was quickly matched with a generous donation from Goldcorp. Giustra’s leadership was the driving force behind the campaign’s success, along with support and generosity from all Streetohome Foundation Board of Directors past and present, corporate donors, family foundations and individuals. Most of the funds raised were from new donors who had not previously given to organizations working to solve homelessness.

“Raising $26.5 million is a testament that Vancouver is ready to solve homelessness,” said John McLernon, Chair of Streetohome Foundation. “The success of the campaign pays tribute to aware and caring Vancouverites who see the responsibility in partnering with the City and the Province to help provide a better life for those less advantaged.”

Of the $26.5 million, Streetohome has committed $20 million to a partnership with the Province of British Columbia and City of Vancouver to create nearly 950 units of new supportive housing on eight city-wide sites. Sanford Apartments, the first of the eight sites, officially opened in November 2012 and provided a home for 62 individuals. Two more buildings will open this year, with the additional five opening in 2014. The remaining $6.5 million is allocated to leverage other projects in conjunction with the City, service providers and private developers. Streetohome has either completed or committed to the development of 1,178 new units, and nearly $950,000 has been spent on prevention to date.

“Streetohome’s campaign has been an important contribution to our work to solve homelessness, recognizing that significant and sustained investment in supportive housing is necessary to achieve real results and progress,” said Vancouver Mayor Gregor Robertson. “We’re committed to building a city where no one is forced to sleep on the street, and innovative partnerships with Streetohome have helped us move closer towards our goal of ending street homelessness in Vancouver by 2015.”

“Our government works closely with community partners to break the cycle of homelessness and our partnership with Streetohome Foundation is helping to achieve that goal,” said Rich Coleman, Minister of Energy and Mines and Minister Responsible for Housing. “Streetohome’s successful capital campaign demonstrates how deeply the people of Vancouver care about their community and everyone who lives here. The campaign has done more than raise funds and awareness, it has helped make life better for a lot of people.”

“Streetohome is to be commended for taking a lead role and galvanizing the business community to find new approaches to preventing and alleviating homelessness in Vancouver,” said Christine Cooper, Vice-President, Corporate Finance, BMO Bank of Montreal. “BMO is very pleased to have contributed financially to one of the new supportive housing sites – for people living with HIV/AIDS.”

To date, Streetohome has contributed to a variety of projects including the eight city sites construction, Vancouver Rent Bank, YWCA Cause We Care House, At Home/Chez Soi project, Taylor Manor, Covenant House Semi-Independent Housing Program, Atira Container Housing, 31 West Pender, the McLaren Housing Society rent subsidy program, Aboriginal Mother Centre, London Hotel renovations and HEAT shelters.

About Streetohome Foundation 
Streetohome Foundation is a community organization working to ensure that all citizens of Vancouver have access to safe, decent, affordable, supportive housing. We bring together business, government, service providers and community leaders to build resources and develop lasting solutions to homelessness. Our long-term work is guided by a 10-Year Plan that will help people break out of the cycle of homelessness, and also prevent people from falling into it. Learn more at www.streetohome.org

For media inquiries, contact:
Lindsay Yuasa
[email protected]
604.629.2711 x103