COVID-19 UPDATE: To read how VCIB is ready to help organizations that may need our support during these unprecedented times, click here.

Financing to help house Toronto’s vulnerable community members

Christie Ossington Neighbourhood Centre on Bloor St W

For 27 years, the Christie Ossington Neighbourhood Centre (CONC) has provided essential services and programming to vulnerable community members in Toronto’s Bloorcourt neighbourhood. For those experiencing homelessness, mental health challenges, or lacking food and income security, the non-profit offers a vital lifeline, a sense of community, and a step toward greater health and stability.

Today, the organization is working on the frontlines of the COVID-19 pandemic, with shelter and food services adapted to keep community members safe and supported.

Now more than ever, we’re committed to supporting organizations serving vulnerable populations and are pleased to announce the successful closing of commercial mortgage financing for CONC’s facilities on Bloor Street West and Lansdowne Avenue. These facilities provide emergency shelter to 124 men per night, 20 units of transitional housing, and space for a wide variety of programs. Motivated by CONC’s mission, VCIB was able to support the organization in lowering its borrowing costs and directing more funds toward frontline services.

“VCIB’s work to support affordable housing means providing financing across the housing spectrum and that includes shelters and transitional housing,” says Vice President, VCIB Jake Stacey. “The COVID-19 pandemic is revealing just how critical facilities like CONC’s are in keeping vulnerable community members safe and supported at all times.”

Learn more about VCIB’s work to finance affordable and sustainable communities here.

Learn more about CONC’s work, facilities and programming here.

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