Media advisory - Eight Saint John housing co-ops celebrate merger as Unified Saint John Housing Co-operative

SAINT-JOHN, April 18, 2016 /CNW/ - A group of eight small housing co-operatives in Saint John, facing issues such as expiring operating agreements and the need for funds for major repairs and replacements, have merged to form the Unified Saint John Housing Co-operative. 

The co-op and its supporters will celebrate the merger this evening with a reception at the Nick Nicolle Community Centre.

Date:	Monday, April 18, 2016
Time:	7:00 pm
Location:	Nick Nicolle Community Centre (85 Durham St., Saint John, NB)

The new co-operative now consists of 252 units and over 400 members. The merger became official on January 1st, 2016.

Merging into a single larger co-operative confers benefits such as financial savings, a stronger voice to advocate for the co-operative sector, and a larger pool of units, which allows the co-op to accommodate its members when their family composition changes or their needs change as they age.

The path towards the merger was a three-year process that began in October 2012 when representatives of nine local co-ops met to discuss their shared challenges. The process was facilitated by the Co-operative Housing Federation of Canada (CHF Canada) and by Housing Alternatives Inc., a co-op property management company.

Nicholas Gazzard, Executive Director of CHF Canada, commented, "This merger is a ground-breaking step forward in our national efforts to bring housing co-ops together, to ensure their sustainability and create the conditions for potential growth." 

CHF Canada is the national voice of the Canadian co-operative housing movement. Its members include over 900 non-profit housing co-operatives and other organizations across Canada.  More than a quarter of a million Canadians live in housing co-ops, in every province and territory.

SOURCE Co-operative Housing Federation of Canada

Karen Brodeur, Program Manager, Co-operative Services, CHF Canada, 902-221-3687, [email protected]; Kit Hickey, Executive Director, Housing Alternatives Inc., 506-632-9393, [email protected]