Federal Community Housing Initiative Extended

  18 December 2024

The federal government released its 2024 Fall Economic Statement, setting its financial priorities for the coming year. Following a sustained push by the co-operative housing sector, the Fall Economic Statement included a commitment worth $362.6 million to extend the Federal Community Housing Initiative (FCHI) by five years. The program was previously scheduled to end in 2028.

Housing co-operatives welcomed this news, as FCHI enables co-ops to be inclusive, mixed-income communities. FCHI provides rental assistance for low-income households living in housing co-operatives and non-profits. It ensures that those households pay no more than 30% of their income for their housing charge (rent). Because the housing charges in co-ops are so much lower than in the private rental market, the cost to the government for this program is also low, compared to supporting the same households in the private market.

“This is very welcome news from the federal government,” said Thom Armstrong, CEO, CHF BC. “It adds five more years of housing security for thousands of low-income co-op households across Canada, and gives us the breathing room we need to secure a permanent extension of this much needed program.”

CHF BC continues to work alongside our national Federation, CHF Canada, to advocate for more permanent affordability for co-op homes and expansion of co-op housing across Canada.

“The commitment to extend the Federal Community Housing Initiative reflects an understanding and appreciation of the inclusive nature of the co-op housing model. Co-ops are relieved to be able to continue to offer secure and affordable homes to households with a range of incomes into the future, especially persons with disabilities, seniors and young families, because of this program extension,” said Tim Ross, Executive Director of the Co-operative Housing Federation of Canada.

Support from FHCI helps co-ops welcome diverse households to build inclusive and sustainable communities together, knowing they’re secure in permanent and affordable housing options.

FCHI rental assistance is available in British Columbia, Alberta, Ontario, Quebec and Prince Edward Island. In other provinces, responsibility for rental assistance rests with provincial governments. Read more about additional housing supports announced by the Federal government.

CHF BC continues to work alongside our Housing Central partners to advocate for more affordable housing protection and expansion.