A housing co-operative, or housing co-op, is a housing complex owned and operated by its members. The primary objective of a housing co-op is for its members to provide themselves with quality, self-managed housing. Co-ops are usually apartment buildings, or townhouses, or a combination of both. The members of the co-op serve as their own landlord.
Each housing co-operative is a registered, not-for-profit society. No individual member actually owns a suite, however, all members jointly own, and are responsible for, the operation of their co-op. (Equity co-ops exist where members purchase their suites, but City Gate Co-op is not one of these.)
To live in a co-op, you must first become a member. A person interested in applying for membership submits a completed application form, and is then interviewed by the co-op’s membership committee. Based on the interview, the membership committee makes a recommendation to the board of directors as to whether or not the applicant would make a good co-op member. The board then passes a motion to accept, or reject, the applicant as a member.
For more information please visit the About City Gate page.