Living in a housing co-operative is different than owning your own home/condo or living in an apartment.
As it is different, potential members are encouraged to learn about housing co-ops before they apply to ensure it is a good fit for them. Co-operative housing exists across Alberta, Canada and the world. So it is not a new idea, but it is unique.
The main goal here at Artspace is to be able to provide affordable housing. It can be at times be quite the challenge, but we have been doing so for over 25 yrs. People should be able to live independently in a unique dynamic environment.
Artspace has the priority to have integrated housing. 2 units in the townhouses and 27 units in the highrise are adapted for persons with disabilities. Our unique on-site home care program, S.A.I.L., provides services to members that are eligible for home care.
Living in a co-operative is ownership - co-ownership - and to note - without equity.
Any money saved from doing tasks ourselves, goes back into the Co-op. the money from shares, which is paid upon moving into the Co-op is not given back with interest like most damage deposits. The interest made on shares, goes back to the operation of the Co-op. Co-op housing provides a home, not an investment for individuals.
So by coming together and jointly owning the property, we are able to enjoy the benefits of our
As you can see, living in a housing co-operative is very different from renting. If you happen to be looking for a place to live very short-term or to to build equity (condo), cooperative living would not be a good fit.
Those who chose to live in a housing cooperative, do so as the believe in the following principles:
For more information see the Cooperative Housing Federation (CHF) Web site at: http://www.chfcanada.coop