On National Housing Day, we were joined by the Canada Mortgage and Housing Corporation (CMHC), as well as representatives from the Government of Canada, Province of British Columbia and the City of Coquitlam to announce funding commitments for Phase Two of the Hoy Creek Housing Co-operative redevelopment.
As part of the Government of Canada’s broader efforts to respond to the housing crisis, work is being done across the housing continuum to respond to the needs of communities across Canada. To that end, the Co-operative Housing Development Program (CHDP) is the largest federal investment in new co-op housing development in decades. On National Housing Day, we recognize the work of advocates who have been unwavering in their push for more co-operative housing across Canada.
To that end, the federal government is investing over $76.3 million in funding to support the expansion of the Hoy Creek Co-operative in Coquitlam with 146 new rental homes. The new building, located at 2901 Glen Drive, will feature a mix of studio, one-, two- and three-bedroom apartments for people with moderate to middle incomes. It will also include 33 fully accessible units. Amenities will include a playground for resident use, fitness room, and easy access to trails and greenspace. All residents will be a part of a housing co-operative where they will be able to build a vibrant community, centered around secure, permanently affordable housing.
“Our Government is proud to support this initiative, part of our ongoing efforts to build strong, affordable communities across the country,” says Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada. “Phase Two of the Hoy Creek Co-operative Redevelopment will make a positive difference for people living in Coquitlam, and it’s another step forward in our bold, ambitious plan to build Canada strong.”
“This is the first project in BC to be funded under the federal Co-operative Housing Development Program, the largest federal investment in new co-op housing in more than 30 years,” says Thom Armstrong, Chief Executive Officer, BC Co-operative Housing Federation of BC and Community Land Trust. “We can’t wait to welcome more than 140 households to their new co-op homes. Co-ops aren’t just bricks and mortar; they are vibrant, mixed-income communities, and we hope this is just the beginning of an exciting new future for a growing co-op housing sector in BC.”
The new development is in the heart of Coquitlam City Centre, located a short walk from Lincoln SkyTrain station, as well as many other community services and amenities. The Community Land Trust. will own the building and operate the new homes in partnership with a housing co-operative. The property will be the second phase of development in this neighbourhood, expanding on the co-operative homes at Hoy Creek Housing Co-op, which were completed in 2024.
“The City of Coquitlam is proud to contribute $3.65 million through our Affordable Housing Reserve Fund toward the second phase of Hoy Creek Housing Co-operative,” says Richard Stewart, Mayor, City of Coquitlam. “This phase will deliver 146 new non-market rental homes in our City Centre, providing accessible and affordable housing where individuals and families can put down roots. It is through collaboration with all levels of government and the non-profit sector that we are able to deliver real, tangible housing solutions.”
To mark the investment, the Honourable Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada, alongside Ron McKinnon, Member of Parliament for Coquitlam – Port Coquitlam, Zoe Royer, Member of Parliament for Port Moody – Coquitlam, Gurbux Saini, Member of Parliament for Fleetwood – Port Kells, Jodie Wickens, BC Minister of Children and Family Development and Member of the Legislative Assembly for Coquitlam-Burke Mountain, City of Coquitlam representatives, Monica Morgan, Executive Director Community Land Trust, Thom Armstrong, Chief Executive Officer, BC Co-operative Housing Federation, and Joe Draves, Board Member of Hoy Creek Housing Co-op toured the site where the housing will be built. This project is being delivered in partnership with the Province, through BC Builds at BC Housing.
“The Community Land Trust was proud to complete the first phase of the Hoy Creek Housing Co-op redevelopment last year, and we’re so pleased to be celebrating the launch of phase two,” says Monica Morgan, Executive Director of Community Land Trust. “We have worked closely with our funding partners and members of Hoy Creek to expand the number of co-op homes in this neighbourhood and provide more individuals and families with safe, secure, permanently affordable housing.”
National Housing Day is an important reminder that all levels of government must work together to solve the housing crisis. We must ensure that everyone in Canada deserves a place to call home, and that no one is left behind.
- The Co-operative Housing Development Program (CHDP) supports the creation of co-op homes that are more affordable than private market rentals, providing options for middle-income households.
- The program was co-designed with the Co-operative Housing Federation of Canada and the co-op housing sector to ensure it addresses the sector’s unique needs, including capacity-building support for applicants.
- Funding provided for Hoy Creek Cooperative includes:
- $76.3 million from the federal government, through the Co-op Housing Development Program
- $3.65 million from the City of Coquitlam through the Affordable Housing Reserve Fund
- $2.1 million in development cost charge waivers from Metro Vancouver
- Additional provincial funding through BC Builds
Read more from the CMHC news release.