272-280 Caroline Street South is a 21-unit apartment building in the Durand neighbourhood, downtown Hamilton. Caroline Co-op was established in 2024, when we as tenants took control of the building from our landlord.
Caroline Co-op Mission
The mission of Caroline Co-operative is to advance poverty relief by providing not-for-profit residential accommodation and incidental facilities for persons of low income, managed by its members according to the principles of democratic, voluntary, and collective governance.
Caroline Co-op Basis of Unity
- We offer safe and affordable housing to our members.
- We share a collective responsibility for the well-being of the co-op. All members are encouraged to offer their time and skills for the co-op’s benefit.
- We govern our decision-making according to the co-operative principles.
- We manage our finances and resources carefully.
- We are concerned about our impact on the environment and make decisions to minimize our environmental footprint whenever possible.
- We work together to promote community life within the co-op and support each other as neighbours.
- We oppose divisions between neighbours whether based on race, nationality, gender, sexuality, ability, language, or level of poverty. We treat each other with respect.
- We balance the needs of the community with the needs of the individual.
- We are rooted in the Durand neighbourhood, a downtown, working-class neighbourhood with a large renter population. We support community organizing initiatives, especially around tenant organizing, co-ops, and affordable housing. We are committed to sharing our experience converting our building into a co-op in order to assist other tenant groups in doing the same.
- We believe in co-operation among co-operatives. We support continuous member education, co-op advocacy, and growth of the co-op sector through our memberships in the Golden Horseshoe Co-operative Housing Federation and Co-operative Housing Federation of Canada.
Our Story
Our building is home to a diverse group of working-class people – seniors, people with disabilities, single moms and young kids, new immigrants, students, and working people. We are a tight-knit community.
In December 2022, our landlord put the building up for sale. We feared rent hikes and reno-victions if he were to sell to a private equity company or real estate investment trust – increasingly common in the Hamilton rental market. We organized a tenant association to have each others’ backs and prepare to fight back.
With the support of the Golden Horseshoe Co-operative Housing Federation, we dreamed big. We voted as a tenant association to try to fundraise to buy the building and turn it into a non-profit rental housing co-op. If we could fundraise the money needed for the down payment, we could get a mortgage for the rest, to be paid off over time through our rents. We could hold onto our affordable homes and keep our community intact.
In June 2024, our dream came true. We closed on the purchase and took over the management of the building. We are grateful to our financial partners at New Market Funds, FirstOntario Credit Union, Canada Mortgage and Housing Corporation, and City of Hamilton for supporting us.
At Caroline Co-op, housing charges are kept low, in accordance with the non profit model. We can prioritize repairs, accessibility, aging in place, and energy retrofits. Before, our rents lined our landlord’s pocket. Now, we decide where our hard-earned money goes. Collectively, we control our homes, for the benefit of current residents and future generations.
Media Coverage
“When their landlord put their Hamilton building up for sale, these tenants worked to buy it themselves.” Hamilton Spectator. November 2024.
Link to the story
“Hamilton residents purchase apartment building to preserve affordable housing.” CHCH News. November 2024.
Link to the story
“Hamilton co-op residents celebrate their 1st holidays in a building they worked over a year to own.” CBC News. December 2024.
Link to the story
Our Location
Contact
carolinecooperative@gmail.com
272 Caroline St S
Hamilton ON, L8P3L9
Our Memberships
Member Sign In
We are working on a password protected members’ area for online forms and other useful information. Coming soon!