COQUITLAM, BC, Nov. 22, 2025 /CNW/ - Far too many Canadians are struggling to find homes they can afford. Solving Canada's housing crisis requires immediate action to bring down costs, cut red tape, and build homes more quickly. On National Housing Day, we reaffirm our commitment to solving Canada's housing crisis by working with all levels of government to build more affordable housing, ensuring every Canadian has a place to call home.
Central to that work, the Government of Canada launched Build Canada Homes, which will help increase the pace of affordable homebuilding to increase housing supply. Build Canada Homes will also help fight homelessness by building transitional and supportive housing – working with provinces, territories, municipalities, and Indigenous communities. It will build deeply affordable and community housing for low-income households, and partner with private market developers to build affordable homes for the Canadian middle class. Earlier today, Build Canada Homes launched their Investment Policy Framework marking a major step forward in how the Government of Canada invests in affordable housing.
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.
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.
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, Mayor Richard Stewart, City of Coquitlam, Monica Morgan, Executive Director Community Land Trust, and Thom Armstrong, Chief Executive Officer, BC Co-operative Housing Federation, 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.
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.
Quotes:
"Our Government is proud to support this initiative, part of our ongoing efforts to build strong, affordable communities across the country. 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." – The Honourable Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada
"The Government of Canada has a strong role to play in building non-market housing to provide more affordable housing options for Canadians, and this includes co-operative housing. The Hoy Creek Co-operative shows how we can build affordable, inclusive, and sustainable homes that respond directly to local needs." – Ron McKinnon, Member of Parliament for Coquitlam-Port Coquitlam
"Expanding Hoy Creek is an important step toward creating more homes that people can afford in our communities. Through our BC Builds program, we're working closely with partners to make sure we deliver these homes quickly, so workers, families and seniors have more housing choices in the community they call home." – The Honourable Christine Boyle, BC Minister of Housing and Municipal Affairs
"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. 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." – Richard Stewart, Mayor, City of Coquitlam
"We are pleased to have supported the creation of new homes at Hoy Creek Housing Co-operative in Coquitlam by waiving Metro Vancouver development cost charges. These waivers are one way that Metro Vancouver supports the development of affordable housing opportunities throughout the region." – Mike Hurley, Chair, Metro Vancouver Boards
"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. 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." – Monica Morgan, Executive Director of Community Land Trust
"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. 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." – Thom Armstrong, Chief Executive Officer, BC Co-operative Housing Federation of BC and Community Land Trust
Quick Facts:
- 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 Information:
- Visit canada.ca/housing for the most-requested Government of Canada housing information.
- Learn more about Build Canada Homes.
- CMHC plays a critical role as a national facilitator to promote stability and sustainability in Canada's housing finance system. Our mortgage insurance products support access to homeownership and the creation and maintenance of rental supply. We also actively support the Government of Canada in delivering on its commitment to make housing more affordable. Our research and data help inform housing policy. By facilitating cooperation between all levels of government, private and non-profit sectors, we contribute to advancing housing affordability, equity, and climate compatibility. Follow us on X, YouTube, LinkedIn, Facebook and Instagram.
- To learn how B.C. is working to deliver more homes for people, visit: https://gov.bc.ca/homesforpeople
- This investment is part of the Province's broader $19-billion housing strategy and reflects its commitment to delivering attainable housing for middle-income families, seniors, and individuals.
SOURCE Government of Canada
Contacts: Renée LeBlanc Proctor, Office of the Minister of Housing and Infrastructure, [email protected]; Media Relations, Canada Mortgage and Housing Corporation, [email protected]
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