115 Place Housing Co-op in British Columbia Needs Your Help Today!
Published December 17, 2021
During this holiday season, when we think of giving and helping those in need, CHF Canada is putting out an urgent appeal to help the members of a housing co-op in Burnaby, BC who face an imminent threat to their homes from a property owner threatening to sell their leased land.
All we are asking is for you to take a few minutes to call or email the names listed below and urge them to accept a fair and reasonable offer from the province to buy the land and preserve the co-op.
The 115 Place Housing Co-op lease is ending, and the owners – the International Union of Operating Engineers Local 115 pension fund – are poised to sell to a private investment firm.
The co-op’s 244 member households were given 48 hours to sign a 10-year lease extension that comes with immediate rent increases of more than 50% (and subsequent annual increases). The new owners can also charge more for parking, laundry, keys, and other items. This is despite the fact that more than a third of the co-op’s 244 member households are seniors over 75 on limited incomes.
The province, through BC Housing, has made a fair offer to purchase the property from the pension fund, keeping co-op members safe and secure, and ensuring a strong return on investment for the pension fund. But the pension plan wants more – leaving 244 co-op homes in the balance.
How Can You Help?
We can protect these co-op homes and ensure the members of Local 115 receive the security of a generous pension – but one that doesn’t come at the cost of low-income seniors. Let the pension fund know you hope they’ll reconsider and do the right thing. Contact the pension fund administrators at the emails or phone numbers below and urge them to re-engage with BC Housing on a reasonable agreement to sell this property to the province:
Lee Riggs, Pension and Benefits Administrator
Brian Cochrane, Business Manager
We can help save this co-op – but there isn’t much time. Thank you for joining us in our efforts to protect 115 Place. To learn more, see this story and video message from the Co-operative Housing Federation of BC.
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