Aging B.C. housing co-operatives are in limbo as federal government subsidies end and restrictions limit their options. Ironically, for some of Vancouver’s 108 non-profit housing co-ops, real estate speculation could be the saviour.
All of the federally-funded co-ops signed operating agreements with CMHC that ran for either 30 or 35 years. Starting this year, those agreements – and the subsidies – are ending. About 70% will have expired before 2020 and 2017 will be the peak year for agreements to end.