Federal Government Launches new $1.5b program to build a new generation of co-op housing
The federal government of Canada has launched a new $1.5 billion Co-operative Housing Development Program to support the development of co-op housing and improve housing affordability. This program, co-designed with the Co-operative Housing Federation of Canada, is the largest investment in co-op housing in 30 years. It aims to build thousands of new co-op homes by 2028, prioritizing projects that address the needs of the most vulnerable populations. Applications for funding open on July 15, 2024, with the first intake closing on September 15, 2024. The program will help increase affordable housing options for low- and middle-income Canadians.