Vancity financing gives a housing co-op a greener future

Providing affordable community housing for people with varied levels of income is never easy in a city like Vancouver. But with the help of Vancity, one not-for-profit housing co-operative has been able to improve its property, lower energy costs for its members and reduce its impact on the environment.

Arlington Grove Housing Co-operative has installed new heating and domestic hot water systems, fencing, siding, and exterior doors with flexible, tailored financing of up to $1.3 million from Vancity. The new heating and hot water system is saving members as much as 50 per cent on their gas bills.

“I never thought it would be so straightforward, says Black. “The one thing I can’t stress enough is how pleased we are with Vancity’s customer service. Customer service encompasses the initial meeting, the understanding of our operation, property management, and the flexibility to create a financing model that made it all possible. The result is that housing charges need not be increased and our members are going to be safer and they’re going to have lower utility bills. Everybody won in this arrangement.”