Housing co-ops welcome federal investment protecting affordability of 55,000 low-income households

OTTAWA, June 25, 2019 /CNW/ - Canada's housing co-ops welcome today's announcement of the second phase of the federal government's plan to protect housing affordability for 20,000 low-income co-op households.

It also includes funding for other forms of community housing, providing similar security of tenure for a total of 55,000 households.

"We welcome the federal government's investment in protecting housing affordability for individuals and families in co-operative and community housing," said CHF Canada President Frank Wheeler. "Today's announcement will provide these vulnerable households the comfort of knowing that their housing is secure for many years to come."

The National Housing Strategy, launched by the federal government in November 2017, contained a two-phase plan to protect these households for the next decade. Phase One of the Federal Community Housing Initiative (FCHI-1) extended rental assistance for federally-administered community housing to March 31, 2020. Phase 2 (FCHI-2) announced today extends this assistance to March 31, 2028.  

"We commend the federal government for confirming this important step, and we look forward to further strengthening our partnerships to tackle the housing crisis," said CHF Canada Executive Director Tim Ross. "We know that the 1.7 million Canadians are still in core housing need, and they want the affordability, security and communities that co-ops provide." 

In order to solve Canada's housing crisis, a modern housing mix needs to include co-ops.

CHF Canada is the national voice of the Canadian co-operative housing movement. Its members include over 900 non-profit housing co-operatives and other organizations across Canada.  More than a quarter of a million Canadians live in housing co-ops, in every province and territory.

SOURCE Co-operative Housing Federation of Canada