Union Co-operative buys residential & commercial properties in Waterloo Region
for permanent affordability and community ownership.
Step 1: Become a Member
People who live, work, or have a connection to Waterloo Region can become members. This maintains community ownership. Every Member gets one equal vote and can run for the Board of Directors.
Step 2: Invest for Affordability
Members can invest and then receive dividends as declared by the board. Investments can be made directly in the Co-operative, or through a self-directed RRSP that is administered by Concentra Trust.
Step 3: Have a Positive Impact
Properties purchased by the Co-operative become community assets. We will work to renovate the properties over time, increasing comfort and sustainability, without displacing current tenants.
Why now?
Increasing Rents
The average rent for a 2-bedroom apartment in the Kitchener-Cambridge-Waterloo CMA increased by 46% between 2018 and 2024.
Unstable Housing Amplifies Challenges
Community organizations report that increasingly unaffordable housing amplifies existing challenges (e.g., homelessness, drug addiction, food insecurity).
“Naturally Occurring” Affordable Housing
Older properties with long-term tenants often have rents that are more affordable than the market average. Purchasing these properties when they become available preserves existing low rents and protect tenants.