Vancouver’s vacancy rate is just
Co-ops have offered residents affordable, community-focused housing options for decades.
More than 50 co-ops across Vancouver are leased on land which is owned by the City, and some of these land leases are about to expire.
This means that new leases need to be negotiated. We want to be mindful of the interests of existing co-op residents, while also being aware of the long-term interests of all Vancouver residents, including future generations.
Using publically-owned land to protect existing affordable housing - and to create more new affordable housing - is a vital part of the solution to the housing crisis facing the whole city.
co-op buildings are situated on City land
units of co-op housing are on City land
What's happening
Are you a co-op resident, operator, or board member?
We've written a discussion paper on co-op lease renewals which aims to:
- Address some of the key concerns expressed by co-ops
- Lay out four scenarios which aim to maximize the delivery of affordable housing on public land while also providing stability to residents
Over the past few months we’ve met with a variety of co-op residents, board members, and operators to talk about the discussion paper. We’ve also been running a survey.
The feedback from our meetings, along with the survey outcomes, will help inform the recommended options we’ll take to Council this fall.
We’re currently summarizing the feedback.
Timeline
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February to June 2020
Engagement with co-op board members, operators, and residents
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July to December 2020
Engagement summarized by the City of Vancouver and additional feedback from stakeholders is received and analyzed
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Q1 2021
Staff report to Council with recommendations