Over 50 rental co-ops are waiting for lease renewals. 40 of these are urgent, unable to secure financing for urgently-needed repairs. The solution is simple: renew these leases.
Dear Mayor Gregor Robertson,
Housing co-operatives are a critical part of the solution to our housing crisis in Vancouver. They bring together individuals and families from a mix of income levels and provide safe, secure and permanently affordable housing. There are more than 100 co-ops in Vancouver that are home to more than 6,000 individuals and families.
Leases in close to 40 co-ops will expire within the next 10 years (some before 2021), and many of those are three-, four- and five-bedroom homes – the kind of affordable family housing that is nearly impossible to find in Vancouver.
The process to renew these leases is straightforward. Before you leave office, I am asking you to review the documents already provided to the city on behalf of co-ops and renew their leases. This is urgent and doing so would be an important part of your legacy.