The Old Grace Housing Co-operative will provide members with affordable homes where they can live together in a diverse and sustainable community.
- welcomes members from different cultures, ages, and family compositions, with differing degrees of mobility.
- provides affordable homes in a variety of sizes, with both equity and subsidy opportunities to suit members’ financial circumstances.
- supports member independence, but encourages interdependence through use of shared amenities and participation in community activities.
- accords all members an equal voice, and an equal opportunity to get involved in community decision making.
- enables members to age in place, moving to smaller units or adapted units as their personal needs change.
- offers an attractively-landscaped, safe, pedestrian-friendly environment that encourages resident interaction.
- comprises buildings that fit the urban scale and character of the surrounding Wolseley neighbourhood.
- demonstrates members’ commitment to environmental sustainability, in both building construction and operation.
The Old Grace Housing Co-operative shares the values identified by the International Co-operative Alliance (ICA):
Co-operatives are based on the values of self-help, self-responsibility, democracy, equality, equity and solidarity. In the tradition of their founders, co-operative members believe in the ethical values of honesty, openness, social responsibility and caring for others.
— ICA, 1995.
The Old Grace Housing Co-operative operates in accordance with the ICA Co-op Principles, as adapted for housing co-ops by the Co-operative Housing Federation of Canada (CHF):
1. Voluntary and Open Membership
Membership in a housing co-op is open to all who can use the co-op’s services and accept the responsibilities of being a member, without discrimination.
2. Democratic Member Control
Housing co-ops are controlled by their members. Each member has one vote. Housing co-ops give members the information they need to make good decisions and take part in the life of the co-op.
3. Members’ Economic Participation
Members contribute financially to the co-op and share in the benefits of membership. The co-op does not pay a return on the members’ shares or deposits. Instead it sets aside reserves for the future and charges the members only what it needs to operate soundly.
4. Autonomy and Independence
Housing co-ops are independent associations. They follow the laws that apply to them and their agreements with governments or other organizations. But the members control the co-op.
5. Education, Training and Information
Housing co-ops offer education and training to the members, directors and staff so that everyone can play a full role in the life of the co-op. Housing co-ops find ways to tell the public what they are and what they do.
6. Co-operation among Co-operatives
By organizing together in federations, housing co-ops grow stronger and help to build a healthy co-op movement. Where they can, housing co-ops use the services of co-op businesses to meet their needs.
7. Concern for Community
Housing co-ops work to build strong communities inside and outside the co-op. They help to improve the quality of life for others and they take care to protect the environment.