Could adding to existing co-ops ease Vancouver’s housing crisis?

A proposal coming to Vancouver city council this week is looking at building more affordable housing by expanding to co-ops.

As Vancouver renters continue to pay the highest prices in the country, Coun. Sarah Kirby-Yung says co-ops could be a potential source of new supply.

“The really bright spot about co-op homes, unlike when you’re building market rental, for example, is that the affordability improves over time,” she told CTV News.

Low- and middle-income residents buy shares in the co-op but don’t have any equity or ownership stake in the property. However, they get to vote on policies like pets and parking priority, much like a strata, and can’t be evicted by owners looking to sell.


Co-ops can help our housing crisis