Our Governance

What is a housing co-op?

Co-operative housing emerged as a solution to the need for suitable, affordable housing. Co-ops are non-profit and non-speculative. Residents are members of the co-op that owns the project, and units are leased back to members at cost. All the affairs of the co-operative are democratically controlled by the members on the basis of one member, one vote.

How is a Co-op Managed?

Co-ops are run by the people(members) who live in them; there is no landlord.

An elected Board of Directors is responsible for the overall operation of the co-op. Committees handle specific aspects of the co-op's business, such as maintenance, member selection, communications, and social events. Major decisions regarding by-laws, budgets, and housing charges are made at member meetings, and all members have the right and responsibility to vote. A paid coordinator manages the day-to-day administration of the co-op.

• housing costs will only rise to meet increased operating costs;
• security of tenure as the property cannot be sold; 
• participation in the running of the co-op allows members to learn and practice new skills, while advancing relationships with neighbors;
• there is an increased sense of community spirit, and opportunities to co-operate in other ways, through bulk buying, recreation, and child care.

• The co-op is financed under a federal government program that insures the mortgage for 100% of the project's capital cost through the Canada Mortgage and Housing Corporation (CMHC). In addition, CMHC gives the co-op a capital grant to lower the interest rate on the mortgage. Some federal grant money is also available to provide rent supplement assistance for low-income members.