Why co-op and non-profit housing is Ontario’s best investment
Affordable today. Affordable tomorrow.
The case for co-op and non-profit housing
Go to any public meeting about housing, and someone will ask, “Why aren’t we building co-op and non-profit housing anymore?”
Why indeed? Non-profit and co-op housing has proven to be the most effective way to create affordable homes and keep them affordable.
Over the course of a generation, far-seeing governments harnessed the power of mixed-income communities to build homes for everyone, be it families, seniors, people with disabilities, survivors of violence, and many others who were not being served by private rental housing.
ONPHA has teamed up with the Co-operative Housing Federation of Canada, Ontario Region to make the case for investing in co-op and community housing today to create a legacy for the next generation.
Download our report today to learn why co-op and community housing is the smart investment.
Investment in non-profit and co-op housing pays off today, and for the next generation.
- A community-owned asset. When mortgages are repaid, it’s the community and public that benefit– not private interests.
- No built-in profit margin. Every dollar goes to keeping rents affordable for the long-term.
- Rents based on real costs, not whatever the market will bear. Ontario rents have climbed 63% since 1992, while the average income for families of two or more has only increased 26%. In co-op and non-profit housing, rents track actual costs to keep the buildings in good repair. That means even “market” rents are affordable in comparison to private buildings created in the same era, and rents remain stable even when there is a spike in the private market.
- A legacy for the next generation. In Ontario, 525,000 people are benefiting from the investments of previous governments. Let’s make sure today’s housing dollars are still working for the next generation of Ontarians.
At ONPHA, we have a vision to see every Ontarian in a home where they can thrive.
Our recent advocacy efforts have helped to secure ~$23+ billions in funding for our sector and achieved crucial policy victories. With members managing close to ~$30 billion in collective assets, ONPHA is one of Ontario’s largest housing developers. Learn more about how we are taking action to protect and expand affordable housing in Ontario.