Good morning/afternoon, Mayor and Council. It’s a pleasure to join you for this important discussion.

I’m Thom Armstrong, CEO of the Co-operative Housing Federation of BC and the Community Land Trust Foundation. I’m here today to speak in support of the motion before you.

There are more than 15,000 co-op homes in BC. Almost 6,400 of them are right here in the City of Vancouver. More than half of those homes are on city-owned land. That may sound like a lot, but relative to the need it’s literally a drop in the bucket. Vancouver’s housing co-ops are home to a rich diversity of incomes, backgrounds, and households. All of the things that make for vibrant, sustainable communities.

The biggest problem with co-ops is that there aren’t nearly enough of them, and many are in need of a significant reinvestment. This motion represents an opportunity to face those challenges directly in a dynamic partnership between the City and the co-op community.

Political alignment

It’s rare that all of the pieces of a big puzzle come together at the same time, but that’s exactly the situation we find ourselves in today:

• The province is making historic investments in affordable housing, most recently with the announcement of the BC Builds program.
• The federal government has finally come to the table with $2B to match the financing already available through BC Builds.
• This Council has committed itself to a dramatic expansion of co-op housing opportunities in Vancouver.
• And, more than at any time in our history, the co-op housing sector is ready to be at the table as a partner in developing a new generation of co-op housing in Vancouver and British Columbia.

It seems obvious that the low-hanging fruit here is the inventory of vacant land in the City.  That is the quickest route to BC Builds funding, and we are ready to tackle that opportunity with you. But as the motion highlights, there are existing co-op communities ready to expand on the sites they have occupied for decades. Many of them outside False Creek South.

The co-op sector is ready

Until now, the prevailing assumption may have been that market-led options are the only viable way to add density and affordability to existing communities. But we know that’s not the case.

The co-op form of tenure can accommodate the full range of incomes and rents needed to make new development and redevelopment viable. That’s why we are committed to the principle that co-op sites are for co-op homes. We are counting on you to work with us to turn that principle into practice.

I want to thank Councillor Kirby-Yung for bringing this motion forward. And I also want to thank the mayor and all councillors for consistently supporting co-op housing over the years.

The co-op housing sector has never been more prepared to partner with you in this venture. Let’s get to work tomorrow on building a bright future for co-op housing in Vancouver.

Thank you for your time and for your support.