Canada/26 new co-op homes in a century-old house

Riverdale Co-operative Houses in east Toronto opened 26 new rental units at 685 Queen Street East on Friday, as the co-op celebrates its 50th anniversary this year. "Can you imagine a better birthday present?" says Carol Watson, member and co-chair of the property's redevelopment committee.

The old lady, as one of our members used to call the building, had nobly stood her ground since 1904. And while she was functional and safe, she needed more than a facelift.

A quote from Carol Watson, co-chair of the redevelopment committee for the property at 685 Queen Street East

The renovation of the house, which began in 2015, added 17 additional units to the original nine: studios and independent homes with one, two or three bedrooms, including six universally accessible units.

Rents are set at 80% of the average market rent, and half of the 26 units have been opened to non-members of the cooperative.

5484 applicants for 13 units

5484 people expressed an interest," reports Ms Watson, "and it was with humility that we proceeded to draw the lucky ones. who were then interviewed by the co-op's experienced membership committee.

Five units were reserved for professional artists, as requested by the local councillor. The presence of artists in a community is a source of dynamism and enthusiasm," says Paula Fletcher.

A cooperative is not just a house, it's a community.

A quote from Olivia Chow, Mayor of Toronto

The project at 685 Queen Street East has received more than $8 million in funding and financial incentives from the City, Toronto notes in a release. Additional financial support is also expected from the provincial and federal governments.

We have the model, we can show that it works," said Olivia Chow at the inauguration. Now let's invite the provincial and federal governments.

A housing cooperative is a group of residents who together form a corporation to provide housing services to members, who collectively own and manage the property, and vote on decisions democratically.

Residents of 685 Queen Street East will be able to start moving in next Thursday, says Mayor Chow.

Today marks National Housing Day, which aims to raise awareness of housing and homelessness.

Source: ici.radio-canada.ca/