News Releases
A $500,000 donation will help to house hundreds of Calgary families in need
February 17, 2022, Calgary, AB –BMO Financial Group today announced a gift of $500,000 to help uplift families facing homelessness as well as contribute to the revitalization of the downtown core. The donation will go towards the transformation of a vacant Calgary office tower into affordable housing and emergency shelter space to help hundreds of families in need.
“BMO’s Purpose to Boldly Grow the Good in business and life includes helping our communities create thriving economies, sustainable futures and more inclusive societies. This innovative project directly addresses housing challenges facing Calgary’s most vulnerable people,” says Allison Hakomaki, Senior Vice President and Head Prairies Corporate Finance. “We’re proud to support Project Thrive, alongside our partners and look forward to contributing to housing solutions for families in need.”
Construction is underway at Sierra Place, located along the C-Train line at the corner of 7th Avenue and 6th Street S.W. The former Dome Petroleum headquarters has been sitting vacant for several years. When the building is fully renovated and re-opened in the fall of 2022, it will feature a variety of studios, two, and three-bedroom units for hundreds of Calgarians, plus family emergency shelter space, transitional housing, programming space, and amenities for the families and seniors who call the building home.
“BMO has made a major investment in the health of our city. This donation will help address both the affordable housing crisis and reduce office vacancy that plagues Calgary’s downtown by turning this building into a hub of life and vitality for those most in need.” says Bernadette Majdell, CEO of HomeSpace.
HomeSpace and Inn from the Cold are collaborating on the capital campaign Project Thrive to fund the renovation of the building. The campaign has received broad support from government partners, and private and corporate donors. This $500,000 donation from BMO brings the non-profits significantly closer to their fundraising goal of $6.5 million dollars.
“We are grateful to BMO and inspired by their meaningful contribution to the local community,” says Heather Morley, Executive Director, Inn from the Cold. “This gift will go a long way in helping us create a future where no child or family is homeless in our community.”
About Home Space Society
HomeSpace is a charitable developer, rental housing owner and property manager. HomeSpace provides safe, appropriate and affordable housing for the most vulnerable Calgarians and owns a portfolio of more than 700 units in 24 communities across the city. For more information visit homespace.org/projectthrive
About Inn from the Cold
Inn from the Cold (IFTC) is dedicated exclusively to families that are or may become home¬less in the Calgary region. The causes of family homelessness are varied and complex. Common events leading to family homelessness include family breakdown, family vio¬lence, loss of income, sudden illness or injury, behavioral addictions, untreated trauma, substance abuse, or an unexpected major expense. IFTC three main programs include homeless prevention and diversion, emergency shelter, and supportive housing. Visit innfromthecold.org/projectthrive for more information.
About BMO Financial Group
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. With total assets of $988 billion as of October 31, 2021, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.
Media Inquiries
Emily Campbell
HomeSpace
438-401-9431
emily@homespace.org
Emma MacIsaac
Inn from the Cold
403-512-0769
emma@innfromthecold.org