Co-operatives and Mutuals Canada (CMC) applauds the federal government’s announcement of a first ever National Housing Strategy that includes the protection of low-income members of housing cooperatives. This announcement alleviates the stress of many economically vulnerable residents who were deeply concerned about their future with the expiry of longstanding subsidy agreements.
CMC President Doug Potentier pointed to the hard work done by the co-operative housing sector “This agreement seems to have incorporated the thoughtful input from our colleagues at the Co-operative Housing Federation of Canada. For the first time in a long-time, co-operatives will not have to worry about ongoing support for low-income residents. It will be great to see new housing co-ops established, helping many more Canadians find an affordable place to live.”
CHF Canada President Nicole Waldron stated, “After years of uncertainty, we welcome the federal government’s detailed plan on how it will protect the affordability of co-operative housing for our low-income neighbours,” Ms. Waldron continued “We are pleased to see the government protecting, preserving and expanding co-operative housing, and we look forward to partnering on other solutions to the housing crisis.”
The announcement of new affordable housing, including an expansion of community housing over the next 11 years is a positive, long-term commitment that included $30 Billion in new money committed by the government. The recognition of co-operative housing as a key partner in affordable housing solutions is historic and CMC President Doug Potentier congratulated member organization CHF Canada on their successful “You Hold the Key” campaign.
The co-operative movement is energized to help the federal government solve our social and economic challenges together. The co-operative model has proven its value in the housing sector by creating a collective housing solution with $5.6 Billion dollars in affordable housing assets. CMC looks forward to supporting the National Housing Strategy and increasing the role of co‑operatives in providing affordable housing to Canadians.