14 October 2026
FOR IMMEDIATE RELEASE
Press Release - Vancouver Liberals Will Implement Blanket Lease Agreements with Co-operatives
Kareem Allam, Vancouver Liberals will end the practice of site-by-site lease agreements with housing co-operatives and provide 25-year lease agreements for co-ops on city-owned land.
VANCOUVER, BC - Mayoral Candidate Kareem Allam and the Vancouver Liberals have affirmed their plans to provide a blanket 25-year lease agreement for Vancouver housing co-operatives in the first 100 days of a Vancouver Liberal administration. A guaranteed 25-year lease will provide certainty and predictability in the governance and financial affairs of co-ops.
57 of Vancouver’s co-ops are on city-owned land and as a result, their lease agreements are negotiated directly with the City of Vancouver. These leases generally offer below-market rates to ensure that housing remains affordable. Currently, the leases are done on a per-site basis with the negotiation and approval process introducing uncertainty and financial risk to these co-ops.
“When you’re unable to get a new site agreement with the City of Vancouver, you’re unable to get loans, unable to get grants, and unable to do needed capital renovations,” said Allam.
The Vancouver Liberals will end the process of per-site co-op agreements and establish a blanket agreement applicable to all of Vancouver’s co-ops. These lease agreements will last 25 years so that co-ops can operate more efficiently. When each lease is renewed at the same time under a blanket agreement, it also reduces the administrative burden on renewal processes and allows for City resources to be used more effectively, eliminating administrative waste.
“We’re going to end the uncertainty that co-op owners have. I think it’s wrong that co-op lease renewals are done site-by-site, and we’re going to change that,” stated Allam.
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Media Assets:
Video (YouTube): https://youtube.com/shorts/dd76NUPtR9o
Kareem Allam is available to speak with members of the media.
Media Contact:
Vancouver Liberals Communications