An exemplary elevator system includes an elevator car. At least one guiderail guides movement of the elevator car. The guiderail has a length in a direction of movement of the elevator car and a depth generally perpendicular to the length. A plurality of flat belts are situated relative to the elevator car such that movement of the flat belts for causing movement of the elevator car is approximately four times a corresponding movement of the elevator car. A plurality of sheaves is situated for directing the flat belts as the belts at least partially wrap around the sheaves. The plurality of sheaves remains fixed near one end of the guide rail. The plurality of sheaves rotate about coaxially aligned axes and have a collective width along the axes that is no greater than the depth of the guiderail.