Founded in 1983, Homes First develops and provides affordable housing for homeless people in Toronto. Taking a housing-first approach, the charity recognizes that the first step for people to break the poverty cycle is to give them a home of their own. Homes First also believes that addiction and mental health can not be effectively treated when a person is living on the streets. The charity estimated that the annual cost of homelessness on the Canadian economy is $7 billion. It also notes that there are approximately 5,000 people in Toronto who are homeless, with nearly 3,200 people on the waitlist for supportive housing.