Canadian government allocates funding for housing co-operatives

29 Apr 2016

The latest budget announced by the federal government of Canada places a strong emphasis on investments in affordable housing and indigenous communities. Moreover, the government has committed CAD $30m in the budget to help federally administered social housing providers, including co-operatives, to continue to provide affordable housing.

Over the past two years the Co-operative Housing Federation (CHF) of Canada had been campaigning to keep rent-geared-to-income housing assistance in place for low-income households.

Around 21,000 households with low income pay an affordable rent as a result of federal programmes. These include seniors, new Canadians, people with disabilities, lone parent families and aboriginal Canadians.

The budget also announced the government would invest in energy and water efficiency retrofits and renovations for social housing, including housing co-ops. Another CAD $500m will be allocated to the Investment in Affordable Housing Initiative, allowing provinces to invest in affordable housing. CHF welcomes both of these measures.

“We appreciate this assistance and also look forward to working with governments to develop a long-term solution so that low-income households, living in co‑ops and other social housing are protected both now and into the future,” said Nicholas Gazzard, President of CHF Canada.

Picture: housing co-operative in Vancouver