Youth Opportunities Unlimited (YOU) is closing in on the dollar amount needed to create 35 new downtown affordable housing units for young mothers living in poverty, thanks to some financial help from a London-based credit institution.
Libro Credit Union has announced it is donating $50,000 to Joan's Place, a YOU project that will see three Richmond Street buildings renovated into low rent units for expecting and new moms and young people at risk for homelessness in the city.
"We have worked with YOU for many years and they are a trusted community partner," Libro Regional Manager Shane Butcher said in a statement. "Libro’s investment in YOU demonstrates the importance of stable housing and what it means now and in the long-term towards ending the cycle of poverty."
YOU has been working to raise $8.2-million for the 26,000 sq ft housing facility since 2017. So far it has raised $6.5-million.
Steve Cordes, CEO of YOU, commended Libro for donating at a time when the community is facing a critical affordable housing shortage.
"In addition to finding a home, Joan’s Place residents will be able to build their path to financial independence through employment programs specifically designed for youth," added Cordes.
An integrated program hub will be established within the facility offering physical and mental health, employment, education, and training to area youth.
YOU hopes to begin construction of Joan's Place within a couple of months, barring any delays as a result of the COVID-19 pandemic.
The donation is the second large investment Libro has made in the community recently. Last week, the credit union donated $320,000 to eight United Way chapters across southwestern Ontario in support of emergency response initiatives for COVID-19.
