Co-op Housing: What It Is and How It Works
This article is a few years old but it explains really well what co-operative housing is all about and how it differs from low-income housing or social housing in Canada. Unlike privately owned low-income housing or City-run “social housing,” co-ops offer a mix of market-value units and geared-to-income units in a fixed ratio or funded from a subsidy pool. This economic diversity within co-op communities is crucial to their financial support and overall success. Some co-ops are designated low- to moderate-income housing, with income limits imposed on their members as part of their federal agreements. Others have no income limits and can have a broader range of incomes among their residents.