Guy-Favreau YMCA to stay open for at least one more year

The federal government has decided to give the YMCA at Complexe Guy Favreau in Montreal’s Chinatown a calendar year of rent for $1, YMCA officials said.

READ MORE: Members won’t let Guy-Favreau YMCA close without a fight

They believe it could buy them enough time to figure out how to stay in the building.

At the beginning of the month, the YMCA announced it would have to close the branch for good because it couldn’t afford a market-indexed rent of around $240,000 a year.

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Members of the community started a petition to save the Y and declared victory on Friday, as their efforts appeared to have had an effect on the outcome.

READ MORE: Petition launched to save Montreal’s Guy-Favreau YMCA

“I’m still processing the news.We’re ecstatic,” said YMCA volunteer Phil Chu, who started the petition.

Tweet This Click to share quote on Twitter: "I'm still processing the news.We're ecstatic," said YMCA volunteer Phil Chu, who started the petition.

The YMCA now has until May 31, 2018.

READ MORE: Montreal’s Chinatown YMCA to close its doors for good

After that, the organization said it expects the federal government to return its rent to market rates.