Cornerstone Co-operative Housing

History of Cornerstone Housing Co-op

Moncton, NB
Established 1983

Phased Growth and Development

Cornerstone Housing Co-op began welcoming its first residents in 1983. At first, Phase 1 included Units 65 to 107. Soon after, Phase 2 followed in 1984 with Units 09 to 60. Finally, Phase 3 was completed in 1985, bringing in Units 114 to 193. Today, more than 330 people proudly call Cornerstone home. They live in 109 townhouses that offer a variety of 2, 3, and 4-bedroom units. Additionally, three of these homes are fully accessible, ensuring inclusivity within the community.

Location and Community Roots

Currently, Cornerstone is spread across three streets: Crestwood Drive (1 unit), Ayre Avenue (6 units), and the majority on Preston Crescent. Originally, the area was known as “Fraser Avenue.” However, in 1991, the Co-op petitioned the City of Moncton to rename the street. As a result, it became Preston Crescent, honoring Lorne Preston, who played a key role in Cornerstone’s development.

Conveniently, Cornerstone is situated in Moncton’s North End. Therefore, members enjoy easy access to schools, shopping plazas, and other essential services—all within a 5 to 10-minute walk. Furthermore, other major amenities are only a short drive away. In terms of governance, a volunteer Board of Directors, elected by the membership, meets monthly to oversee the Co-op’s operations and ensure its continued success.

Continuous Improvements and Community Life

Over the past several years, extensive improvements have been made throughout the property. These include upgrades to windows, roofing, and many interior spaces. To ensure quality maintenance, a full-time Maintenance Technician handles ongoing repairs and upkeep.

Moreover, the Co-op offers numerous green spaces, including well-maintained lawns and mature trees. Consequently, these areas provide residents with beautiful spaces to relax and gather. In addition, children benefit from designated “safe play areas,” promoting both safety and outdoor activity.

Facilities That Support the Community

Cornerstone also operates its own Events Hall, which was recently renovated. This space serves multiple purposes. It is available for rent to community groups and individuals seeking a functional and affordable venue. As a result, the rental revenue helps offset maintenance costs, supporting the long-term sustainability of the building.

Learn More

For those interested, more information about housing co-operatives and their benefits is available through the Co-operative Housing Federation of Canada.

Awards