The motion calling for Vancouver to explore ways to build more co-op housing on City-owned land was introduced by Councillor Sarah Kirby-Yung.On Wednesday, Vancouver City Council approved a motion that will see the City partner with non-profit organizations to make better use of City-owned land, with a focus on building more co-op housing, a housing type that has many benefits but has seen little investment in recent decades.
"Many co-op land leases in Vancouver are due to expire over the next few decades having been signed 40 or more years ago," she pointed out in her motion. "They need renewal and a new model and path forward. Critically, at the same time, many of the dozens of co-op sites on City-owned land are very low density today and have the ability to accommodate new co-ops and new co-op homes now.
According to Kirby-Yung, there currently exists 3,738 co-op units on City-owned land, which represents about half of all the co-op units in Vancouver.