More co-op housing could increase affordability in Mississauga: report

As affordable options dwindle, Mississauga is encouraging more co-operative housing.

Co-operative or co-op housing is defined as community housing owned by a non-profit corporation and controlled collectively by the member residents through a board of directors they elect from among themselves.

Co-op housing has been a reliable source of quality, affordable housing for low- and moderate-income individuals and families in Canada, a report to the Oct. 28 Planning and Development Committee states.

While the city typically doesn’t build the housing, it can assist co-op corporations in pursuing funding for redevelopment opportunities on existing sites or acquiring land for new co-op housing.

The city is exploring an opportunity for a co-op building as part of the Canada Lands Corporation development at 1 Port St. E., which is next to the $75 million project to develop the Port Credit Harbour. The Canada Lands Corporation project includes affordable housing, mixed-use residential and commercial space and a new public marina, according to their website.

Most non-profit rental housing co-operatives in Canada were developed with capital and operating support from the federal government during the 1970s to early 1990s. And the vast majority of Mississauga’s co-op housing stock was built before the mid-1990s.

“No new non-profit co-ops have been built in the Mississauga in the intervening decades,” the report states.

About half of the co‑ops in Ontario were developed under federal government programs.

Recently there has been a renewed interest in co-operative housing and new funding opportunities and programs have been developed at the federal, provincial and municipal levels.

Currently, there are 22 co-op sites comprised of 10 apartment building properties and 12 townhouse complexes for a total of 2,750 co-op units in Mississauga.

Because rents or monthly charges are typically lower, housing co-operatives are a popular housing choice. Long waitlists and minimal turnover limit options for other households who are unable to own or rent in the market.

Staff met with representatives from the Peel/Halton Co-operative Housing Federation and the Co-operative Housing Federation of Toronto to discuss opportunities to increase the co-op housing stock in Mississauga.

They found that while most residents are happy with co-op housing, particularly the security of tenure and sense of community, there are challenges such as maintaining buildings and making major financial decisions in areas where board members lack the necessary skills or expertise.

The city plans to support new co-op buildings through advertising, working with existing co-ops who may be interested in developing their site, and exploring any public or private land sales that offer the potential for a community land trust or a similar model to create a new housing co-op.

Staff would report back to council on the outcome of any negotiations with Canada Lands Corporation or the Region of Peel regarding a potential partnership on surplus government lands or municipal acquisition of lands for co-op housing purposes.

See the full report on the meeting agenda here.

Lead photo of 120 Acorn Place: Google Maps