On the whole, the 59-unit co-op seems fine. Its vacancy loss is low, Hawthorne has reported a surplus in four of the past five years and the building condition is good. With its mortgage paid off in 2018, the co‑op has been making almost three times its former contribution to the capital reserve.
Instead of coasting comfortably, Hawthorne made a successful application to CMHC’s Preservation Fund to pay for an energy audit, aging-in-place conversion assessment and building condition assessment. The co-op has now reviewed the energy-audit recommendations, which have payback periods ranging from less than a year to, in one case, about 28 years. They will enable the co-op to cut back on the energy and water used by members.