18 Water Street Non-Profit Homes, Inc.

What 18 Water Street Non-Profit Homes, Inc. does

18 Water Street Non-Profit Homes, Inc. is a community-based Ontario non-profit corporation founded in 1988 that owns and operates Cedarcrest Manor, a six-story affordable seniors housing building at 20 Water Street in Markham Village, Greater Toronto Area. The single-property portfolio comprises 150 apartment suites—129 one-bedroom units (including 15 wheelchair-modified) and 21 two-bedroom units (including 3 wheelchair-modified)—offering independent living for residents aged 60 and older.

The building relies on standard apartment infrastructure (security cameras, controlled access, individually controlled HVAC, modern amenities) and is not a technology platform; the principal digital product is a web-based online application form for market-rent units. Its operating model is built around two parallel housing programs: a market-rate rental stream (one-bedroom at $1,202/month, one-bedroom with balcony at $1,330/month, two-bedroom at $1,498/month) and a Rent Geared-to-Income (RGI) subsidized stream where eligible tenants pay 30% of gross monthly household income. Subsidized housing intake is administered through a structural partnership with York Region's centralized Housing Access unit, while market-rent applications are processed directly and maintained on an internal waiting list.

The organization is governed by a community Board of Directors (President Lou Gizzarelli, Vice Chair Don Williams, Treasurer Glen Dougan, plus other directors and resident representatives) and operates within York Region's housing policies and Ontario housing legislation, receiving ongoing regional support. It has no parent company, no disclosed funding rounds, no headcount disclosed, no proprietary technology, and no disclosed financial figures, and functions as a stable single-asset community housing provider rather than a growth-oriented enterprise.

Name

18 Water Street Non-Profit Homes, Inc.

Legal name

Water Street Non-Profit Homes, Inc.

Website

https://cedarcrestmanor.ca

Company type

Private

Founded year

1988

Operating status

Operating

Short description

Non-profit owner-operator of Cedarcrest Manor, a single 150-suite affordable seniors apartment building in Markham Village, Ontario, serving residents aged 60+ through subsidized RGI housing and market-rate rentals.

Ownership category

akta.pro rank

Product category

Affordable Senior Housing

NAICS

Other Residential Care Facilities (623990)

SIC

Operators Of Apartment Buildings (6513)

akta.pro primary industry

Affordable/Subsidized Independent Living (HUD/LIHTC) Communities (HLADAAAB)

akta.pro secondary industries

Market-Rate Independent Living (Private Pay) Communities (HLADAAAA), Independent Living with Supportive Services (Light ADL/IADL Support) (HLADAAAE)

Keywords

• Seniors housing
• Affordable housing
• Subsidized housing
• Independent living
• Senior apartments

Headquarters

HQ city

Markham

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Infrastructure

Revenue model

1. Market Rent Revenue: Monthly rental income from market rent apartment units (one-bedroom at $1,202, one-bedroom with balcony at $1,330, two-bedroom at $1,498)
2. Subsidized Housing Revenue (RGI): Rent Geared-to-Income (RGI) units where tenants pay 30% of gross monthly household income, with the shortfall subsidized through York Region housing programs

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels2 records

Core offering

18 Water Street Non-Profit Homes, Inc. operates Cedarcrest Manor, a six-story, 150-suite affordable independent living apartment building for seniors aged 60+ in Markham Village, Ontario. The organization offers 129 one-bedroom units (including 15 wheelchair-modified) and 21 two-bedroom units (including 3 wheelchair-modified) through two programs: government-subsidized Rent Geared-to-Income (RGI) housing coordinated with York Region, and market-rate units rented directly to residents.

Product overview

Cedarcrest Manor, owned and operated by Water Street Non-Profit Homes, Inc., is a single-property non-profit seniors' housing provider offering 150 affordable apartment suites in Markham Village. The portfolio consists of 129 one-bedroom units (including 15 wheelchair-modified) and 21 two-bedroom units (including 3 wheelchair-modified), available through two distinct programs: Rent Geared-to-Income (RGI) subsidized housing coordinated through York Region, and market-rate units managed directly via an online application system. The organization does not operate as a technology platform with multiple software products or modules.

Differentiator

Problem solved

Functional benefit

Products and services

• Cedarcrest Manor Affordable Housing Affordable independent living apartments for seniors aged 60+ in Markham, Ontario, offering both government-subsidized Rent Geared-to-Income (RGI) units and market rent options in a single six-story building with 150 suites.
• One-Bedroom Apartments One-bedroom apartment suites averaging 600 square feet, available in eight styles, including standard units and units with balconies. Includes 15 wheelchair-accessible modified units. Rented at $1,202 (standard) and $1,330 (with balcony) per month for market rent.
• Two-Bedroom Apartments Two-bedroom apartment suites averaging 900 square feet, available in four styles, including 3 wheelchair-accessible modified units. Rented at $1,498 per month for market rent.
• Rent Geared-to-Income (RGI) Subsidized Housing Government-subsidized housing program where rent is calculated as 30% of gross monthly household income, managed in partnership with York Region's Housing Access unit. Available to applicants whose income qualifies them for subsidy relative to market rent.

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core.

• York RegioncoreStrategic or Co-development PartnerYork Region provides ongoing support and funding to Water Street Non-Profit Homes, Inc. Cedarcrest Manor operates within York Region's housing policies and guidelines, and subsidized housing is administered through York Region's Housing Access unit.
• Older Adults In Action (OAIA)coreStrategic or Co-development PartnerThe Markham Seniors' Activity Centre is operated by Older Adults In Action organization, supported by the City of Markham's Department of Parks and Recreation. Cedarcrest Manor's main floor adjoins this center, allowing residents to access the facility from inside the building.
• Markham Community BuscoreOthersThe Markham Community Bus stops directly at Cedarcrest Manor's front door, providing hourly service to nearby amenities including Markham Stouffville Hospital and Markville Shopping Centre. The bus also connects with the TTC for trips into Toronto.

Scale indicators2 records

Recent moves6 records

Expansion highlights2 records

Broad incumbents

• Revera Inc. Major Canadian operator of retirement residences, long-term care homes, and home health services, with extensive GTA footprint. Comparable as an Ontario senior housing operator serving independent living seniors, though Revera operates at much greater scale and across higher-acuity settings.
• Amica Senior Lifestyles: Canadian operator of premium independent living and assisted living residences, with locations across Ontario including the GTA. Comparable as an Ontario independent living operator for seniors, but Amica targets a higher-end, largely private-pay segment versus Cedarcrest's affordable/subsidized model.
• Chartwell Retirement Residences: One of Canada's largest for-profit operators of seniors housing, operating independent living, assisted living, and memory care communities across multiple provinces. Comparable to Cedarcrest Manor as a GTA-area senior housing provider, though Chartwell serves a broader acuity range and operates at significantly greater scale.
• Sienna Senior Living: Public Canadian senior living operator with retirement residences and long-term care communities across Ontario and Western Canada. Comparable as an Ontario-based senior housing provider; Sienna spans a broader acuity and price spectrum than Cedarcrest Manor's independent living focus.

Direct peers

• Mon Sheong Foundation: Non-profit charitable organization operating several long-term care facilities and seniors housing in the Greater Toronto Area. Directly comparable as a GTA-based non-profit operator providing residential services for seniors, with similar community-driven governance and affordability orientation.
• Yee Hong Centre for Geriatric Care: Non-profit organization operating long-term care centres and seniors housing across the GTA. Comparable as a GTA-based non-profit seniors housing and care provider with a similar mission-driven, community-rooted model.

Others

• Ontario Non-Profit Housing Association (ONPHA): Provincial sector association representing non-profit housing providers across Ontario, including operators like Water Street Non-Profit Homes. Relevant as an industry body, advocacy partner, and source of operating standards and funding intelligence for non-profit seniors housing operators.
• York Region (Regional Municipality) Housing Services: York Region's centralized Housing Access unit administers the RGI waitlist that Cedarcrest Manor participates in, and funds subsidized units. Relevant as the principal public-sector partner and pipeline channel for Cedarcrest's subsidized resident referrals.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat2 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about 18 Water Street Non-Profit Homes, Inc.