In 2002, the Jubilee Fund provided financing for the purchase and renovation of 457 Young Street, a 2-½-storey abandoned apartment building. Kinkora Development Ltd. undertook the project in consultation with the University of Winnipeg. The Jubilee Fund provided the bridge financing.
The apartment was converted into low cost student housing (23 suites) for students of the University of Winnipeg. The project contributed to neighborhood revitalization because it focused on utilizing a vacant abandoned building. In addition, it generated employment for local residents who worked on the renovations.