Sault Blog

Finally, after forty years, funding is available for co-operative housing projects thru CMHC’s Co-operative Housing Development Program (CHPD).

“The Government of Canada announced $1.5B in funding for the CHPD to expand co-op

rental housing. The program is estimated to support the development of thousands of affordable rental co-operative housing units by 2028″, CMHC.

Most co-ops in Canada are registered as not-for-profit corporations. Members jointly own and manage the building they live in, and the monthly housing charges are designed to cover the expenses with surpluses reinvested into the co-op.

Members do not build equity in the co-operative; if members move out, their home is offered to another household.

The Ontario Government introduced a new Community Housing Renewal Strategy, January 2024, intended to help co-ops become entrepreneurial and enter a new phase of development.

The Co-operative Housing Federation of Canada states: “If you live in a housing co-op you are:

• A voting member, part of a community where neighbors look out for each other.

• Living in housing that will stay affordable because it’s run on a non-profit bases.

• Linked to other forms of co-operative enterprises active in banking, retail, farming, insurance, daycare, healthcare services and more…”

On a recent bicycle ride to Jamestown I was happy to see that the Hub Trail extension was installed and completed and the 2020-21 James Street Neighborhood Rehabilitation Strategy focused on the rehabilitation of Anna Merinelli Park was been completed. It is a definite improvement to Jamestown; however what Jamestown desperately needs is a massive Urban Redevelopment Project. In order for this to happen we need Social Housing Entrepreneurs.

Jamestown Urban Renewal and Urban Revitalization will be lead by Social Housing Entrepreneurs with the full support of our Local, Provincial and Federal Government Programs.

Jamestown will require these critical programs being implemented and completed.

• Placemaking Strategy: The City of Sault Ste. Marie must adopt a strategy and have the legal and financial resources to expropriate and demolish blighted buildings and houses in our City, especially in the Jamestown neighborhood. These building include the “Old Pub”, the church on Cathcart, the old gas station, any blighted dead asset buildings and boarded up houses.

• Landbanking: These properties will be held in trust by the City of Sault Ste. Marie, for the express use of creating social, affordable co-operative housing only.
  
• Sault EDC to prioritize the development of Social Housing Entrepreneurs. These massive Federal and Provincial Social Housing Funding Programs are targeted to a new generation of Social Housing Entrepreneurs.
  

There are billions of Federal and Provincial dollars available for Social Housing Entrepreneurs that translates into real “local construction economic development dollars”; however, our City lacks properly trained and educated Social Housing Entrepreneurs to “win” the funding for our City’s desperately needed affordable social housing needs.

• Thank you: CMHC, The Co-operative Housing Federation of Canada, Ontario Gov. Community Housing Renewal Strategy.