2004 Co-operative Innovator Award - Options for Homes - Michel Labbe

The pioneer behind the development of innovative ways through which low income Toronto residents can become homeowners, received the Co-operative Innovator Award in 2004. Options for Homes Non-Profit Corporation received the award during the Ontario Co-operative Associations day-long Co-op Gala and Spirit Awards on Wednesday, October 20, 2004, at Country Heritage Park, Milton. Managed by development professionals, Options for Homes obtains residential land and markets affordable homes to prospective purchasers. Incorporated in 1992, Options for Homes uses an innovative financial structure that sustains the home ownership without government subsidy by eliminating the profit margin, thereby reducing the cost of the homes. As well, the initial purchasers of an Options project form a co operative housing corporation that retains Options as the development consultant. This represents a unique model that offers the new home purchasers protection and control that they could not find in other housing developments.

Category:

People & Blogs

Tags:

• Options for Homes
• Michel Labbe
• On Co-op