Co-operative housing today and tomorrow: CHF Canada’s 2024 federal budget recommendations

Published February 15, 2024

Co-op housing is needed more than ever. At a time when so many Canadians are struggling with the high cost of housing and cost of living, co-op housing offers a permanently affordable, community-based solution. This February, CHF Canada made a submission to the federal Department of Finance – providing the co-operative perspective to address the national housing crisis.

CHF Canada’s four key recommendations for the 2024 federal budget:

1) Build new co-op homes:

Launch and implement the Co-operative Housing Development Program in early 2024 and double the number of non-market homes by 2030.

2) Sustain existing affordable homes:

Create a new national Community Housing Acquisition Fund to preserve long-term affordability. An affordable housing acquisition fund will support the community housing sector to acquire rental housing to protect tenants and preserve long-term affordability. The goal: 10,000 affordable homes protected by 2026, with a plan to scale to 100,000 homes by 2034.

3) Advance Indigenous housing rights:

In order to address the housing crisis and advance reconciliation, fully fund a For-Indigenous, By Indigenous approach to the Urban, Rural, and Northern Indigenous Housing Strategy.

4) Make life affordable for low-income households:

Protect 400,000 households living in co-ops and non-profits by permanently investing in rental assistance programs, set to expire in 2028.

A housing system that works for all Canadians must include more co-operative housing.

Read our recommendations in our budget submission.