What is Co-operative Housing?

What is a housing co-op?

Housing co-operatives provide not-for-profit housing for their members. The members do not own equity in their housing. If they move, their home is returned to the co-op, to be offered to another individual or family who needs an affordable home. Some co-op households pay a reduced monthly rent (housing charge) geared to their income. Government funds cover the difference between this payment and the co-op’s full charge. Other households pay the full monthly charge based on cost. Because co-ops charge their members only enough to cover costs, repairs, and reserves, they can offer housing that is much more affordable than average private sector rental costs. Co-op housing also offers security. Co-ops are controlled by their members who have a vote in decisions about their housing. There is no outside landlord.

For more information regarding cooperative housing, please see:

The Co-operative Housing Federation of Canada

The Co-operative Housing Federation of Toronto

 

Contact Information

- Caroline Co-operative Homes Main Office Hours of Operation -

Monday – Tuesday – Wednesday

10 AM to 3 PM

Thursday

2 PM to 7PM

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- Office Contact Information -

Via Mail:

93 Longboat Avenue
Toronto, Ontario
Canada
M5A 4C6

Via Phone: (416) 862 – 0847

Via Fax: (416) 862 – 8932

Via E-Mail: carolinecoop@rogers.com

About Us

About Caroline Co-op:

Caroline Co-op is located in downtown Toronto, south of the Esplanade, east of Sherbourne, west of Parliament and north of the CNR tracks (north of Lakeshore Blvd). The Co-op has been occupied since the 1980’s. The Co-op consists of sixty units, comprised of stacked apartments and townhomes located on Hahn Place and Longboat Avenue. There are 18 – one-bedroom units, 24 – two bedroom units and 18 – three bedroom units. The units on Hahn Place are three bedroom townhomes with a one bedroom unit above and Longboat Avenue is a combination of all units. There are no wheelchair accessible units. Like all Co-op’s, there is no landlord; the people (members) who live here run the Co-op through a democratically elected Board of Directors, Committees of Volunteers and Meetings of the membership. Since members are responsible for the running of the Co-op, all members are required to volunteer few hours of work each month. The volunteer work may take the form of service on the Board, a Committee or work on the grounds, etc. All members are obligated to attend regular Member’s meetings, usually held four times a year. Advantages of Co-op living are housing charges (rent) may be below market rates, excellent maintenance, long-term residence, security and a strong community.

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