Latest news with #housingcooperative
Yahoo
8 hours ago
- Business
- Yahoo
Quebecers can wait years to get into co-op housing. So why isn't there more?
Relics of a long life are scattered throughout Dimitri Roussopoulos's 19th-century home. The 88-year-old has lived in the two-storey townhouse since 1972, where he and three other residents together pay less than $1,000 a month. "I often travel and people say, 'where do you get the money for travelling?' I say, 'well, I don't have to pay a mortgage,'" he says. Roussopoulos is one of the founders of Canada's largest housing co-operative development, the Milton Park Community, in Montreal's Plateau-Mont-Royal borough. The network spans six square blocks, with 616 housing units, 146 residential buildings and two commercial buildings. Since co-op members own the property, no one has to worry about being evicted or the building being sold — as long as they follow the rules. "I have a sense of ownership, I have a sense of security," says Roussopoulos. "I feel my personality enriched. I feel healthier in every way, physically and mentally." According to the Co-operative Housing Federation of Canada (CHF), forms of social housing, including co-ops, make up less than four per cent of Canada's housing stock. It can also take years for a co-op housing unit to become available. In Quebec, wait times can range from one to two years, according to the Confédération québécoise des coopératives d'habitation (CQCH). How do co-ops work? In a housing co-op, members are co-owners and vote on how the building is managed. Generally, housing co-ops are divided into two categories: non-profit and equity co-ops. In the latter, you buy a share of a building, which can gain value over time. Non-profit co-ops are much more common in Canada. In those, you don't build equity — instead, you pay a monthly fee that covers building expenses and maintenance. When you leave, your unit goes to someone else. That means residents can pay significantly under market rate for housing — depending on the city, province and structure of the co-op. WATCH | How does a housing co-op work?: CHF Canada says there are about 95,000 co-op housing units in Canada, most of which were developed two generations ago. "In the 1970s and 80s there was robust federal and provincial investment in new co-operative housing supply," explains Tim Ross, executive director of CHF Canada. "That investment slowed down due to policy decisions by governments in the 80s and 90s, to first cut and then eliminate social housing funding." More government funding Different levels of government have scaled up funding for co-op housing in recent years. Last year, the federal government launched the Co-op Housing Development Program, setting aside $1.5 billion in contributions and loans to build and expand co-ops. In a statement, a spokesperson for Housing, Infrastructure and Communities Canada says the government "recognizes the essential role that non-market housing, including co-operative housing, plays in fulfilling many Canadians' housing needs." It adds that low-cost loans and forgivable loans for new and existing co-op units are available through the Affordable Housing Fund. Quebec's Housing Ministry also says housing co-ops "are an important model in Quebec's housing supply ecosystem." In a statement, a ministry spokesperson said funds are available through a variety of programs, including the Quebec Affordable Housing Program. Last year, the City of Montreal announced it would sell its land — usually vacant lots or parking lots — at a break-even price if it is being used to build off-market housing. Quebec's CQCH says it's a good start, but a far cry from government investments in the 70s and 80s. General director Sandra Turgeon says that if governments are serious about developing this kind of housing, they'll have to provide a lot more funding long term. She adds that government programs can be tough to navigate and tend to favour long-established co-ops over new ones. "The co-op needs to have experience," she says. "You have to already be big to get bigger." Hurdles to starting new housing co-ops Professor Avi Friedman heads McGill University's affordable homes research group. He says starting a new co-op can be time-consuming and complicated. The process starts with establishing a co-op entity and acquiring funding. "A group of people need to get together and if they build their own property, they need to hire to find a site and to buy the site, get permits to build and so on. These are processes that usually are very cumbersome and long," he says. The CQCH adds that residents won't save as much in newly established co-ops as ones established years ago. Turgeon says residents in new co-ops will pay closer to the current market rate, minus whatever government funding is available. She argues the process is still worth it. "We work for the future. It's a little bit expensive now, but it will stay at the same price in future years and your income will increase," she says. Ross believes the best approach is to scale up existing housing co-ops, rather than starting new organizations altogether. "They have a track record and a balance sheet from which to work with, so that does create a more advantageous situation when it comes to new development," he says. Not for everyone Friedman says that the democratic nature of a co-op isn't something everyone will find appealing. "We are individualistic in nature," he explains. "People want to own their own property, to be suburban. Once they move in, there can be issues with getting along, how to share things and so on." Roussopoulos admits that co-op members may butt heads at times, but the sense of community makes it all worth it. "People talk to each other. They know each other on a first-name basis and that creates a whole atmosphere where you feel great comfort."
CBC
03-06-2025
- Business
- CBC
Quebecers can wait years to get into co-op housing. So why isn't there more?
Social Sharing Relics of a long life are scattered throughout Dimitri Roussopoulos's 19th-century home. The 88-year-old has lived in the two-storey townhouse since 1972, where he and three other residents pay under $1,000 a month. "I often travel and people say, 'where do you get the money for travelling?' I say, 'well, I don't have to pay a mortgage,'" he says. Roussopoulos is one of the founders of Canada's largest housing co-operative development, the Milton Park Community, in Montreal's Plateau-Mont-Royal borough. The network spans six square blocks, with 616 housing units, 146 residential buildings and two commercial buildings. Since co-op members own the property, no one has to worry about being evicted or the building being sold — as long as they follow the rules. "I have a sense of ownership, I have a sense of security," says Roussopoulos. "I feel my personality enriched. I feel healthier in every way, physically and mentally." According to the Co-operative Housing Federation of Canada (CHF), forms of social housing, including co-ops, make up less than four per cent of Canada's housing stock. It can also take years for a co-op housing unit to become available. In Quebec, wait times can range from one to two years, according to the Confédération québécoise des coopératives d'habitation (CQCH). How do co-ops work? In a housing co-op, members are co-owners and vote on how the building is managed. Generally, housing co-ops are divided into two categories: non-profit and equity co-ops. In the latter, you buy a share of a building, which can gain value over time. Non-profit co-ops are much more common in Canada. In those, you don't build equity — instead, you pay a monthly fee that covers building expenses and maintenance. When you leave, your unit goes to someone else. That means residents can pay significantly under market rate for housing — depending on the city, province and structure of the co-op. WATCH | How does a housing co-op work?: How co-operatives could become a hack to Canada's housing crisis 4 minutes ago Duration 5:18 People who live in them say they offer an attractive, low-cost alternative as the price of renting and buying property rises. Here's how housing co-ops work and why we might start hearing more about them in Canada. CHF Canada says there are about 95,000 co-op housing units in Canada, most of which were developed two generations ago. "In the 1970s and 80s there was robust federal and provincial investment in new co-operative housing supply," explains Tim Ross, executive director of CHF Canada. "That investment slowed down due to policy decisions by governments in the 80s and 90s, to first cut and then eliminate social housing funding." More government funding Different levels of government have scaled up funding for co-op housing in recent years. Last year, the federal government launched the Co-op Housing Development Program, setting aside $1.5 billion in contributions and loans to build and expand co-ops. In a statement, a spokesperson for Housing, Infrastructure and Communities Canada says the government "recognizes the essential role that non-market housing, including co-operative housing, plays in fulfilling many Canadians' housing needs." It adds that low-cost loans and forgivable loans for new and existing co-op units are available through the Affordable Housing Fund. Quebec's Housing Ministry also says housing co-ops "are an important model in Quebec's housing supply ecosystem." In a statement, a ministry spokesperson said funds are available through a variety of programs, including the Quebec Affordable Housing Program. Last year, the City of Montreal announced it would sell its land — usually vacant lots or parking lots — at a break-even price if it is being used to build off-market housing. Quebec's CQCH says it's a good start, but a far cry from government investments in the 70s and 80s. General director Sandra Turgeon says that if governments are serious about developing this kind of housing, they'll have to provide a lot more funding long term. She adds that government programs can be tough to navigate and tend to favour long-established co-ops over new ones. "The co-op needs to have experience," she says. "You have to already be big to get bigger." Hurdles to starting new housing co-ops Professor Avi Friedman heads McGill University's affordable homes research group. He says starting a new co-op can be time-consuming and complicated. The process starts with establishing a co-op entity and acquiring funding. "A group of people need to get together and if they build their own property, they need to hire to find a site and to buy the site, get permits to build and so on. These are processes that usually are very cumbersome and long," he says. The CQCH adds that residents won't save as much in newly established co-ops as ones established years ago. Turgeon says residents in new co-ops will pay closer to the current market rate, minus whatever government funding is available. She argues the process is still worth it. "We work for the future. It's a little bit expensive now, but it will stay at the same price in future years and your income will increase," she says. Ross believes the best approach is to scale up existing housing co-ops, rather than starting new organizations altogether. "They have a track record and a balance sheet from which to work with, so that does create a more advantageous situation when it comes to new development," he says. Not for everyone Friedman says that the democratic nature of a co-op isn't something everyone will find appealing. "We are individualistic in nature," he explains. "People want to own their own property, to be suburban. Once they move in, there can be issues with getting along, how to share things and so on." Roussopoulos admits that co-op members may butt heads at times, but the sense of community makes it all worth it.
CBC
15-05-2025
- Business
- CBC
This Vancouver housing co-op is facing a $1M tax if it wants to renew its lease for more than 30 years
Social Sharing A Vancouver housing co-op is worried it may have to pay more than $1 million in tax if it wants to sign a new long-term lease — something its residents just can't afford. Helen's Court is located on city-owned land in the Kitsilano neighbourhood. It's home to about 100 people, who live in 44 units. Residents lease the land from the city and work together to maintain a lasting community. "It's affordable, stable," longtime resident David Diamond said. "The big thing is, we're a village, and I think that's rare. We all know each other, and it's self-governing, so we support each other, we take care of each other." The original 40-year lease for Helen's Court expired last year, and they have to sign a new lease by June 1. But here's the catch: if they want to sign a lease for more than 30 years, something co-ops often prefer to do, they'll be subject to the provincial property transfer tax (PTT). Diamond said residents were surprised to learn co-ops are subject to such a tax when they started negotiating a new lease with the city. "If we have to pay the tax, all kinds of things will happen," he told CBC's On The Coast host Gloria Macarenko. Right now, rent at the co-op goes up about three per cent annually to build up reserves for maintenance. To accommodate the PTT, it would have to go up at least seven per cent for several years. "We're going to make it unaffordable for some of our most vulnerable members," Diamond said. The co-op could sign a lease for 29 years, but at the end of the lease, there'd be no guarantee the co-op would continue — it would depend on whether future city leaders saw value in supporting co-op housing. "We're basically throwing potentially 30 years of the co-op's existence out the window by trying to avoid the tax," Diamond said. According to real estate lawyer Mike Walker, the PTT was introduced in the late 80s, originally as a luxury tax on properties. PTT depends on the fair market value of a property. An additional two per cent is applied for residential properties over $3 million. Only registered charities are exempt from PTT, which housing co-ops are not. "That was meant to get high-value, single-family homes, but now it's having, I think, the pernicious effect of applying to rental buildings, housing co-ops, non-profit buildings because their values are way above $3 million," Walker said. Helen's Court resident Carla Pellegrini said the co-op has been in touch with the province to find a way to exclude housing co-ops from the tax, but so far, they haven't received an answer. "We've tried to be patient and very diplomatic, but now we're up against this deadline to sign our lease, and we have to make a choice." More co-ops will face similar issue According to the City of Vancouver, there are 57 co-ops, which contain more than 3,700 housing units, on city land. Dozens more are situated throughout the province. In a statement to CBC News, the City of Vancouver said it realizes just how important housing co-ops are when it comes to offering affordable housing. While it agrees that applying PPT to co-ops erodes their affordability, it's not willing to cover that cost. However, it is supportive of lobbying the province to change the legislation. Walker said a lot of co-ops and non-profit housing operators will be affected by PTT in the coming years. "The people who put [PTT] weren't thinking about these extensions of leases," he said. "It's going to take a change to the legislation or the regulations." But he warned the government has to make the exemption crystal clear, so that for-profit developers can't take advantage of it. The province didn't respond to questions asked by CBC News about how housing co-ops fit into PTT. The Ministry of Finance said it is focused on bringing down housing costs and that it's always open to conversations about new projects.
CBC
06-05-2025
- General
- CBC
Kamloops's RareBirds Housing Co-op calls it quits
A bold Kamloops experiment in shared living is coming to an end. Founding members of the RareBirds Housing Co-op reflect on what worked — and what didn't — after a decade in their 6,000-square-foot dream home.
