Mainstay Housing has been actively seeking opportunities to expand its asset base, such as through the City of Toronto’s Housing Now Program. The goal is to develop more high quality housing and create communities where people who have experienced homelessness can fully integrate and belong. Communities will include a mix of market rent and affordable units where some tenants receive support services.

The money raised under the new Development Fund will cover costs associated with development and ensure financial resources are readily available to act quickly when opportunities arise. Mainstay is pursuing a range of opportunities, from projects wholly developed by Mainstay to joint ventures with others who are interested in creating inclusive communities.

Mainstay is looking at different sources for the fund, including selling some current properties that do not meet standards for high quality housing. Organizations or individuals are also welcome to make donations to Mainstay Housing directed specifically to the Development Fund.