Earlier today, the federal government launched the Co-operative Housing Development Program at an event held in Winnipeg in conjunction with the CHF Canada Annual General Meeting. The Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities, made the announcement.

This program is the first significant federal investment in co-op housing in over 30 years. We are delighted to see the program—promised in the 2022 federal budget—finally come to fruition.

The Co-operative Housing Federation of Canada and other leaders in the co-op housing sector co-designed the program. It includes $500 million in contributions and $1 billion in loans to build housing co-ops across Canada. We are particularly excited that Indigenous-led housing co-ops will be eligible for program funding.

CHF BC looks forward to working with the Community Land Trust and our partners to offer co-op housing to many more households in British Columbia. We hope that this signals a sustained federal investment in more co-op housing communities in B.C. and across Canada.

Quotes

“CHF BC and the entire community housing sector in B.C. welcome this announcement and look forward to working with our federal partners to develop a new generation of housing co-ops in BC. There has never been a better time to invest in co-op communities, and we are ready to turn this good news into hundreds of new co-op homes where they are needed most.”

Thom Armstrong, CEO of CHF BC

“The launch of the Co-operative Housing Development Program will kickstart the development of the next generation of co-operative housing. More individuals and families will be able to access the security, affordability and inclusion that co-operative housing offers.”

Tim Ross, Executive Director of CHF Canada

“Dedicated investment in co-operative housing acknowledges its unique value in providing not only affordable homes, but also in nurturing strong communities where people of different incomes and backgrounds are welcomed.

Having a secure home in a supportive community made all the difference for me when I was a young single parent. Co-operative housing changes lives, and I am overjoyed that more people will be able to have what I had, thanks to the Co-operative Housing Development Program.”

Cassia Kantrow, President of CHF Canada

“By focusing on people over profits, co-operative housing is able to keep housing affordable for the long term. This is the largest investment in co-op housing in 30 years. It will help build thousands of new homes and create a new generation of co-operative housing across Canada.”

The Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities

For more information on the Co-operative Housing Development Program, please visit Infrastructure Canada’s or CHF Canada’s websites.

Here are the Deputy Prime Minister’s remarks on building more co-op homes, faster through the program.