By The Canadian Press

Vancouver building valued at $13 million

Vancouver building valued at $13 million gifted to support youth with substance use

Jan 8, 2026 | 9:02 AM

VANCOUVER — An organization that offers free mental health support and substance use care for youth will be able to expand its services to a new building in downtown Vancouver, thanks to a more than $13-million donation from a private foundation.

The Foundry says the four-storey building, nestled between boutiques, restaurants and luxury units in Vancouver’s high-end Yaletown neighbourhood, has been gifted by a private foundation to help teens and young people.

The Foundry says in a news release that the donation gives them a “once-in-a-lifetime opportunity to rewrite the future of youth mental health care” in Vancouver, as the building will be transformed into “B.C.’s most comprehensive youth wellness centre.”

The group says the gift from donors who want to be anonymous comes at a “critical moment” when youth mental health challenges are escalating and toxic drug overdoses are the leading cause of death among youth between 10 and 19 in B.C.

BC Assessment shows the latest valuation of the building at 1220 Homer Street at $7.5 million, although the Foundry says the building was bought by the donor last year for $13.25 million.

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Steve Mathias, executive director at Foundry, says the new donation will provide more space for life-changing services for youth, including mental health and substance use care.

The anonymous donor says in the news release that when they first met the Foundry’s team, they were struck by how deeply they care, and how much they know, and that’s when they decided that their support would make a “truly meaningful impact.”

The Foundry offers free and confidential mental health and wellness services for youth aged 12 and 24 in B.C.

This report by The Canadian Press was first published Jan. 8, 2026.

The Canadian Press