Newmarket Co-op was founded in 1983 by local residents sensitive to local needs. As a non-profit corporation, it is run for the benefit of its residents, by the residents.
The Security of Ownership…at the price of renting
To join us, you do not have to buy your unit, you become a member of the co-operative. You do not make a down payment. However, you have the security of ownership because you and the other members control the company that owns your building. No one can sell it or convert it into a condominium
A Family Environment…in a supportive community
Newmarket Co-op is designed for family living. Most of our units are full two, three and four bedroom townhouses. We also have a “tot lot” and our own community centre for meetings and recreation. But more important than physical design is our commitment to being a healthy environment for growing families
A Responsibility of Ownership…shared with others
Every resident adult must be a member of the co-operative. As a member, you will take part in running Newmarket Co-op by electing a Board of Directors and by helping in whatever ways you are able. Volunteer committees perform various management tasks such as selecting new members, budgeting and planning for the maintenance of the buildings. The membership comes together for meetings on a regular basis to vote on policies and any other major decisions
Decisions and costs are a shared responsibility. You bring your own experience , feelings and knowledge to bear on important decisions and you benefit from the skills and expertise of your neighbours.
A Neighbourly Spirit…right from the beginning
Community spirit grows from people working together to reach common goals. Newmarket Co-op is a result of coming together to build housing which is neither part of the speculative real estate market, nor governed by distant bureaucracy.
Whatever your background, you will get to know your neighbours because you will share control and responsibility with them. Together, we an make Newmarket Co-op a self-reliant community where everyone has an opportunity to be involved.
A Community based on Principle and Practice
Newmarket Co-op is a good idea whose time has come. But we are not alone. There are over seventy-five co-operatives in the Metro Toronto area and hundreds across Canada. Together we support the following principles because they have stood the test of time.
Open and Voluntary Membership:
Membership is open to all persons who are willing to accept its responsibilities, regardless of race, religion, political or social creed.
Each and every member has one vote.
Service, not Profit:
No individual can make a profit from the Co-operative.
If there is a surplus from one year’s operation, the members decide how it can be used to improve the Co-operative.
Education for Co-operation:
Members will be educated in the principles and techniques of co-operation.
Co-operation among Co-ops:
Co-operatives serve their own best interests by actively co-operating with other co-operatives.