A well-informed membership makes the co-op housing movement stronger. Keep up-to-date on the latest CHF BC, and co-op housing related, goings-on by reading our latest news below. To get this news—and more— delivered directly to your inbox subscribe to our newsletters.
We are thrilled to share news of an important announcement that will take place on Monday, July 11. The announcement brings together several partners on a historic deal for the co-operative housing movement, and we want you to be part of it!
The co-op’s lease is ending, and the union pension fund has decided to sell the land and buildings to the highest bidder. The inevitable outcome of a sale like that will be drastic rent increases and economic eviction for many of the co-op’s 244 households.
Co-ops carry debt for a few reasons: they may still be paying off their original mortgages for construction and land acquisition; they may be borrowing to secure a new lease; or they may undertake significant capital renewals (like new envelopes or parkade membrane replacements) that trigger borrowing. Whatever the reason for having debt, interest rate … Continued