The city has been making moves toward building one of the largest affordable housing projects in decades.
The Scarborough development at 2444 Eglinton Ave. E. will include over 600 co-op units, marking the first time in years that that many co-op homes are being built.
Most co-ops in Canada are registered as not-for-profit corporations. The way it works is members jointly own and manage the building they live in, and the monthly housing charges are designed to cover expenses with surpluses reinvested into the co-op.
The members do not build equity in their housing. If they move, their home is offered to another household.
Read more:
https://www.cbc.ca/news/canada/toronto/is-co-op-housing-making-a-comeback-1.7109092