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Cooperative Housing Development Program Launched in Canada

The Canadian federal government has launched a $1.5 billion Co-operative Housing Development Program. This program marks the first federal investment in cooperative housing construction in over 30 years. Delivered by the Canada Mortgage and Housing Corporation, the program will provide approximately $500 million in contributions and $1 billion in loans to build coops across Canada. Additionally, projects supporting the creation of Indigenous-led cooperative housing will be eligible.

The Co-operative Housing Federation of Canada (CHF Canada) will work to ensure that this program furthers the development capacity of the cooperative housing sector. In the face of yet another housing crisis, coops are ready and able to build, thanks to the investments coming from this new program.

According to Tim Ross, CHF Canada’s Executive Director, “The launch of the Co-operative Housing Development Program will kickstart the development of the next generation of cooperative housing. More individuals and families will be able to access the security, affordability, and inclusion that cooperative housing offers.”

Cassia Kantrow, CHF Canada’s Board President, added, “Dedicated investment in cooperative housing acknowledges its unique value in providing not only affordable homes but also in nurturing strong communities where people of different incomes and backgrounds are welcomed.”

“We look forward to engaging with members and partners to best leverage these funds towards new development and in support of Coop Housing for All,” said Karen Brodeur, CHF Canada’s Manager of Cooperative Housing Development.

This impactful investment in coop housing is the largest in 30 years. It will help build thousands of new homes and create a new generation of cooperative housing across Canada,” stated the Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities.

CHF Canada is the national voice of cooperative housing, representing 2,200 housing cooperatives and a quarter of a million residents across Canada.

Read CHF Canada’s press release.

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