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Today, Finance Minister Chrystia Freeland tabled the 2024 federal budget, which largely focuses on the housing needs of renters and younger generations.

Many of the housing commitments outlined in the budget were announced as part of the federal government’s new housing plan, unveiled last week.

The Co-operative Housing Federation of Canada strongly supports the government’s sharp focus on housing.

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BC Budget 2024 includes modest spending increases in previously announced provincial housing measures.

British Columbia continues to lead the country in housing investments to benefit low- and moderate-income households. CHF BC, CLT, and the rest of B.C.’s community housing sector is pleased to see these investments maintained and, in some cases, increased.

On February 20, 2024, Canadian Prime Minister Justin Trudeau announced the federal government will be adding another $2 billion in financing to BC Builds

The announcement also included BC Builds’ fourth site with 112 new co-operative homes for middle-income households in Vancouver.

Coquitlam is celebrating the acquisition and preservation of 290 co-op homes by the Community Land Trust. This was made possible through a contribution from the Rental Protection Fund (RPF).

This is a significant milestone for co-operative housing in B.C., It marks a crucial step forward in protecting housing security for co-op members in B.C.’s daunting housing landscape.

In a CBC News story by Jon Hernandez, Thom Armstrong, the CEO of CHF BC called the measures "well-intended," but he raised alarm over the lack of a timeline, with dollars only starting to roll out in 2025.

He notes that "We’re in a housing crisis and is baffled as to why an economic recovery would have to wait until 2025-2026 to address what’s a burning crisis right now."

The Energy Star Portfolio Manager Support Program offers incentives to co-ops that create an Energy Star Portfolio Manager (ESPM) account and share their data with our organizations. It is a partnership of CHF BC and Vancity.

Co-ops who are Vancity members. could access up to $500.

The governments of Canada and British Columbia along with the City of Vancouver announced combined funding of more than $91 million for a major affordable housing project that will build 154 new homes for people living and working in Vancouver.

The project is owned and operated by Community Land Trust in partnership with McLaren Housing Society. The first two floors will be the new home for QMUNITY, a non-profit organization that works to improve queer, transgender, and Two-Spirit lives.

A $500-million rental-protection fund that will help non-profit groups purchase rental buildings has opened in British Columbia.

The fund aims to help First Nations and other non-profit groups buy older “affordable” rental buildings to preserve them as low-cost rental housing.

CMHC recently announced the  Canada Greener Affordable Housing program (CGAH). The program focuses on supporting deep energy retrofits for existing multi-unit residential buildings. The goal is to see buildings achieve near net zero emissions.

As with all CMHC programs, there are multiple eligibility criteria, but the most critical are the very ambitious targets for energy consumption reductions and emissions.

On June 1, 2023, CMHC launched a new time-limited program to support deep energy retrofits (i.e. ≥70% reduction in energy consumption and ≥80% in greenhouse gas emissions).

The Canada Greener Affordable Housing program helps affordable housing providers—including housing co-operative— complete deep energy retrofits on existing multi-unit residential buildings.

We appreciate the focus on improving social supports for low-income Canadians, but are disappointed to see a lack of new investments in affordable housing. Indeed, no number of social supports will do more for low- and middle- income Canadians than ensuring that everybody has access to a safe, secure, affordable place to call home.

Alas, despite communities across the country experiencing explosion in housing need, Budget 2023 does little to address Canada’s worsening housing crisis. Instead, it puts existing affordable housing at risk.