Co-ops, Built to Last
Now is the time to invest in co-op homes that people can afford—homes that are built to last.
On February 27, Ontario will go to the polls for the provincial election. This election is an important opportunity to advocate for more co-op housing, so that everyone can have a good quality and affordable home.
Join us in advocating for all parties to commit to:
✔ Create new co-op homes that will offer quality, affordable housing for generations to come, while strengthening Ontario’s economy.
✔ Protect renters by helping co-ops purchase private market rental buildings and convert them into co-ops.
✔ Support the long-term success of the more than 550 housing co-ops in Ontario that provide more than 125,000 homes.
Take action
Co-ops, Built to Last
For over 50 years, co-op housing has been a proven housing solution. In Ontario, co-ops offer secure, affordable, community-oriented homes for over 125,000 people.
Ontario needs more co-op homes
- Ontario has the second-highest average rent in Canada. Rising housing costs and limited affordable options are leaving many Ontarians feeling frustrated and anxious, and looking for more choices.
- There is growing interest in co-op housing because it is more affordable and offers more security of tenure compared to private market rentals. However, waitlists are long and there aren’t enough co-op homes available to meet demand.
- Co-op housing offers a solution that works: co-ops are mixed-income communities that offer long-term affordability, community and security. Housing co-ops are unique because they are owned and democratically controlled by their members, giving people a say in their housing.
- Ontario has only half the co-op and non-profit housing it needs to provide a healthy housing system for low- and moderate-income Ontarians.
Co-op housing is a lasting solution
- For over 50 years, co-op housing has been a proven housing solution in Ontario. Previous eras of government investment in 1970s and 1980s helped build hundreds of housing co-ops across Ontario which continue to offer good quality, affordable community-oriented homes.
- Co-ops offer lasting affordability. Data shows that monthly housing charges (rent) in a co-op for non-subsidized households are more affordable than rents in comparable private market buildings – and that affordability deepens over time. While in the early years after construction, co-op housing was on average,$150-200 less per month than a private rental, after almost 20 years, the difference is $400-500 per month.
- Co-ops create strong and lasting communities. Co-ops are community-oriented places, where people have security and stability.
Investing in co-op housing strengthens Ontario’s economy and creates prosperity
- Investing in building new co-op housing won’t just create new homes – it will help to build Ontario’s economic prosperity and provide stability for Ontarians in a time of uncertainty.
- Canada must double its supply of co-op, non-profit and public housing to meet the OECD and G7 average. In a recent study, Deloitte found that boosting Ontario’s share of co-op and non-profit housing to at least the OECD average could increase economic productivity by up to 9.5% and contribute up to $50.3 billion to GDP.
- Converting private rental housing to co-ops not only protects renters from renoviction, it costs 2-3 times less than building new affordable housing. Building new housing can take time, whereas newly converted rental to co-op homes are available immediately, and create a lasting community asset.