As a premier consultancy in real estate development, The GeoFocus Group stands at the cutting edge of assisting developers to structure their projects efficiently and successfully navigate the CMHC MLI Select program. Our turnkey systems and comprehensive processes ensure that your project benefits from optimal financing opportunities, streamlined submissions, and enhanced project success.
Recent Changes to CMHC MLI Select
The CMHC MLI Select program has recently undergone significant updates to better promote affordability and energy efficiency in multi-unit residential developments. Notably, the maximum points achievable for energy efficiency have been reduced, and the inclusion of affordable units has become increasingly emphasized. Specifically:
- Energy Efficiency Points Reduction: The maximum points available under energy efficiency criteria have been reduced from 100 to 50 points, making it crucial for developers to integrate affordable units to meet the highest qualification levels.
- Extended Amortization: For new construction projects, the maximum amortization period has been extended from 40 years to 50 years, and up to 55 years for loans approved under the MLI Select program.
- Flexible Use of Funds: Restrictions on the use of insured refinance proceeds have been lifted, allowing greater flexibility for developers (Oakbank Capital Group) (CMLS Financial).
Prevalence of CMHC MLI Select Financing in Ontario
The MLI Select program has become a cornerstone for financing purpose-built rental developments in Ontario. By offering reduced premiums and extended amortization periods, CMHC supports the construction of affordable, accessible, and energy-efficient rental housing, making it an attractive option for developers.
How The GeoFocus Group Can Help
- Turnkey Systems and Processes: Our streamlined processes ensure that every aspect of your project, from initial planning to final submission, is managed with precision and efficiency.
- Strategic Project Structuring: We work closely with your design and financing teams to structure projects that meet CMHC’s rigorous standards, maximizing your chances of approval and success.
- Expert Navigation: Our deep expertise in CMHC programs and requirements allows us to guide you through the complexities of the MLI Select submission process, ensuring compliance and strategic advantage.
- Holistic Support: From preparing detailed documentation to coordinating with lenders and brokers, we provide comprehensive support at every stage of the process.
Why Choose The GeoFocus Group?
- Extensive Experience: Our team has a proven track record of successfully navigating the CMHC submission process for numerous clients.
- Specialized Knowledge: We stay abreast of all CMHC updates and leverage this knowledge to benefit your project.
- Strong Relationships: Our established connections with lenders and brokers enhance our ability to negotiate favorable terms and expedite approvals.
Partner with The GeoFocus Group to harness the full potential of the CMHC MLI Select program and ensure the success of your next multi-unit residential development.
Contact us today to learn more about how we can support your project.
