Yellowknife (Feb 13/04) - For the first time in its history, the YWCA in Yellowknife is finally the proud owner of a housing unit.

"This is our first piece of property we have owned since we started in 1966," said Lyda Fuller, executive director. "I am just so excited."

On Feb. 5, the four-bedroom house in question became home to four adults with disabilities receiving in-home assistance through the YWCA's Community Support Services.

Because of a fiscal surplus from last year's budget, she said the YWCA was able to invest $40,000 into their new home, which couldn't have happened without help from the NWT Housing Corporation.

Because the YWCA is an organization, Fuller said the only mortgage available to purchase property in the city is a commercial mortgage.

That is where the Housing Corporation stepped in.

It signed on as the guarantor for the commercial loan needed to cover the YWCA's mortgage.

Fuller was surprised at how easy it was once the Housing Corporation got involved. She hopes this is the beginning of a new trend.

"I have been trying to buy at least one house for the past three years," she said.

"Now, I would like to buy a house a year for the next 10 years."

All of the units the YWCA currently uses are under lease agreements, but she said they are looking into purchasing another home which is already being occupied by clients.

"The second house we are interested in purchasing is one leased to clients for the past five years," she said.

The YWCA will need $40,000 to buy the property -- and that would be secondary to the Yellowknife Homelessness Coalition allocating $40,000 to the initiative -- with a total down payment of $80,000.

Jeff Anderson, chief financial officer at the Northwest Territories Housing Corporation, said it was happy to be a part of making the YWCA property owners.

"Lyda met with us and they (YWCA) had the resources to cover the cost so we were able to support them," he said.

"It poses very little risk to us because we already knew the YWCA was a legitimate and secure organization."

As for this becoming a trend, Anderson wouldn't rule out future partnerships with the YWCA.

"I don't really have a problem with them buying assets instead of leasing them," he said. "We will be there to support them."

The location of the home has not been released at this time.