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.
Many of their land leases needed to be renewed as they were signed 40 years ago and are due to expire over the next decade.
Between 2017 and 2021, we've worked closely with co-ops, the Co-op Housing Federation of BC (CHF BC), and the community on next steps.
What's happeningApproved a methodology for land lease renewals
In July 2021, Council approved a methodology for land lease renewals for these co-ops which will offer a below-market rate for the land, with further discounts to land rent for low and moderate-income households.
Using publicly 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.
February to June 2020
The City developed a discussion paper PDF file (1.6 MB) and began engagement with co-op board members, operators, and residents
July 2020 to June 2021
Engagement summarized by the City of Vancouver and additional feedback from stakeholders received and analyzed
July 2021 onwards
Negotiations with individual co-ops will begin, with co-ops with leases which expire in the near-term being prioritized