Attainable Housing Co-op
A Housing Co-operative (Housing Co-op) is to condominium living. A corporation made up of co-op residents, owns the land and building or buildings. Each resident is responsible for paying their share to maintain the complex.
The difference between a condominium and a housing co-op is the corporation builds and manages the co-op, removing the profit component. Ongoing maintenance and management of the complex can be done by the residents, reducing living costs.
"Housing co-ops are the largest provider of affordable housing with ongoing subsidy in Canada." Author Tim Wake - Review of Best Practicies in Affordable Housing (British Columbia; SmartGrowthBC)
The Attainable Housing Committee has researched the idea and development of a housing co-op in Leduc. Since 2009 a core group of residents has formed the housing co-op corporation. The group will oversee the development of a housing co-op that they plan to live in once completed. The community-based committee will continue as an advisory committee. The City of Leduc is a proud supporter of the Leduc Housing Co-op project.
For more information on the Terra Haven Housing Co-op, please visit www.terrahavenhousing.com or email info@terrahavenhousing.com