Building Purchase FAQs

Looking at this through the lens of our increasing stewardship priority, it became clear that owning puts us in a better position than renting or leasing. Our former monthly lease payments were nearly equivalent to the cost of owning and operating the building, yet we didn’t benefit from owning an appreciating asset.

Following consecutive years of surplus revenue and accumulating reserves, YES TV was positioned to make the purchase.

The building is essential to our ministry work, seamlessly integrating our broadcasting studios, prayer center, and ministry offices. Custom-built in 1992 to meet our specific needs, it will continue to support our mission for years to come. As we fundraise, our goal is not just to resource the building but also to support our ministry, as they are inseparable. We will launch a vision campaign to engage partners who share our commitment to creating a lasting legacy for future generations.

We understand that donors and stakeholders may want to know the purchase price.

It is more important to us to emphasize that YES TV secured the building substantially below market value following a lengthy negotiation process involving other bidders. In addition, the previous owner invested about $10 million in building improvements that we could not entertain 6 years ago.

The final purchase price is based on a receiver process that occurred over 3 years. During this time, the receiver conducted a property appraisal but did not manage the building as a landlord. We subsequently conducted our own property assessment based on present-day real-estate market conditions with advice from knowledgeable property agents, lawyers, and our financial institutions.

The unique makeup of the building, with its 3 production studios, was a key consideration. This feature is an increasingly valuable commodity in GTA and the whole of Ontario that cannot be replicated easily or affordably.

When considering all the options, including alternate lease/build locations, purchase by YES TV was the best solution, as it also factored in the massive disruption to our combined operations.

Ultimately, YESTV paid far less per $ sq/ft to reacquire the property than comparable transactions made during the same period, considering real estate appreciation since the sale in 2018.

With the purchase, the money that was previously expensed as rent will be reallocated towards this investment, which will provide returns for many years to come. We are fortunate that this investment comes with the opportunity to leverage excess studio and office space to pay down debt faster than otherwise possible. We plan to be debt-free within the next 10 years through income-generating initiatives and the support of our partners through Crossroads’ vision campaign.

This significant milestone has been achieved thanks to the exceptional efforts of the YES TV team over the past several years. Their diligent work in building reserves, which make this purchase possible, has been instrumental in bringing this vision to fruition.

YES TV’s ownership of the building secures Crossroads’ broadcast home, ensuring our mission continues for decades to come. The building was purpose-built for our needs. Therefore, staying in the building is important for the infrastructure and customization Crossroads and YES TV need to continue their mission uninterrupted.

We hope you will join us in standing for a strong voice of faith in Canada and beyond. The building offers us the security to ensure the mission has a platform to share the good news that remains firm even in such a time as this. As is the case currently, when you give, you can designate your gift. Donors wanting to support the mission of the newly named building, Crossroads Unity Commons, can give to Crossroads’ vision campaign “Ignite Hope: Power in Unity.”

Having a Christian-based media hub in our nation of Canada has never been more important, and Crossroads has been that trusted voice for the past 60+ years. This purchase secures our home and creates a place for other like-minded creatives to gather for collaboration and partnership for greater Kingdom impact.

As the owner-occupier, we continue to occupy close to 50% of the property with our offices, studios, Prayer Centre, and master control combined. We are partnering with new and existing tenants as well as ministry partners to create an exciting hub for like-minded organizations, through studio rentals, office rentals, events, and conferences.

Being situated in the GTA and close to the growing number of studio productions in Canada, we see opportunities to partner with creative businesses in exciting ways. A team will be dedicated to promoting the custom-built property in the region and actively raising awareness about the amenities available in the property.

We are in the early stages of launching a vision campaign to show donors how they can join us in securing a legacy of faith. This campaign will support the physical home that enables our on-air programs, prayer center, and other ministry projects.

On May 10, 2024, a group of partners gathered with us at 1295 North Service Road for an intimate celebration of God’s faithfulness, an evening of worship, praise, and vision-casting. We are excited to look ahead to continue to build on the successful legacy of faith in the public square.¬