Are you searching for multi-family real estate investments in Canada that deliver massive leverage, strong cash flow, and government-backed financing? In 2025 & 2026, the combination of CMHC MLI Select financing and Alberta’s explosive growth is creating some of the best opportunities investors have seen in decades.
This in-depth guide is based on an exclusive live presentation by top Canadian mortgage experts and developers Scott Dillingham, Christine Traynor, and Jennifer Champion. You’ll discover exactly how the CMHC MLI Select program works, why Alberta (especially Edmonton) is the #1 province for multi-family right now, and real 2025–2026 deal examples that qualify for 95% financing with 50-year amortizations.
Book Your Strategy CallWhat Is CMHC MLI Select Financing and Why It’s a Game-Changer in 2025
The Canada Mortgage and Housing Corporation (CMHC) MLI Select program is designed to incentivize the construction and preservation of affordable, energy-efficient, and accessible rental housing across Canada.
Key Benefits of MLI Select (When You Score 100+ Points)
- Up to 95% loan-to-cost (LTC) on new construction or 95% loan-to-value (LTV) on purchases
- Up to 50-year amortization — dramatically lowers monthly payments
- Limited recourse (less personal risk than full-recourse conventional loans)
- Premiums and fees rolled into the loan (no out-of-pocket closing costs)
Compare that to the standard CMHC program: max 85% LTV and only 40-year amortization.
How to Earn the Maximum 100 Points
Points are awarded in three categories:
- Affordability – Commit a percentage of units to rents at or below CMHC’s local affordability threshold
- Energy Efficiency – Higher insulation, better windows, heat pumps, solar readiness, etc.
- Accessibility – Wider doorways, zero-step entries, grab bars, etc.
New construction projects are far easier to maximize points than existing buildings, which is why developers dominate this space.
Borrower Requirements (Don’t Let This Scare You!)
- Net worth: Greater of 25% of loan amount or $100,000
- Liquidity: Roughly 10% of project cost in cash, investments, or unused lines of credit
- Relevant real estate experience
These hurdles are exactly why most successful projects are done through partnerships or joint ventures — experienced operators bring the track record while capital partners bring equity and liquidity.
Why Alberta (Especially Edmonton) Is Canada’s #1 Multi-Family Market in 2025
Alberta has overtaken Ontario and BC as the top destination for savvy real estate investors. Here’s why:
Economic & Demographic Tailwinds
- Leading real GDP growth in Canada
- Massive interprovincial and international migration
- Diversified economy: tech, logistics, renewables, film, manufacturing (not just oil)
- Highest wages + no provincial sales tax = more disposable income
- Edmonton is the 6th most affordable major city in Canada
Landlord-Friendly Policies
- No rent control (raise rents annually with market)
- Faster, fairer eviction process
- Pro-development municipal rules — up to 8 units as-of-right on properly zoned lots (vs. only 3–4 in Ontario)
Supply/Demand Imbalance
Edmonton wants to double its population in the next decade. With limited new supply coming online fast enough, rental demand remains extremely strong.
Real 2025–2026 Deal Examples Using 95% CMHC MLI Select
1. The Kensington – 20-Unit Purpose-Built Rental (Completion Early 2026)
- Total project cost: ~$9.1 million
- Financing: 95% CMHC MLI Select (points from affordability + energy efficiency)
- Minimum investor net worth: ~$2.16 million
- Minimum liquidity: ~$865,000
- Ideal for passive capital partners or full ownership
2. 8-Unit Stacked Townhome Projects (Multiple Completing 2026)
- Purchase/construction cost: $2.2M – $2.5M each
- Typical layout: 4 upper 3-bed/2-bath + 4 lower 1- or 2-bed legal suites
- Net worth required: $500K–$600K
- Liquidity required: $210K–$240K
- Perfect entry point for newer investors or joint-venture groups
Both project types are being built from the ground up to hit maximum MLI Select points — meaning investors put in as little as 5% of total cost.
Why New Construction Beats Buying Existing Multi-Family in 2025
- Everything brand new → minimal capex for years (full warranties)
- Designed specifically for today’s renter (open layouts, modern finishes, in-suite laundry)
- Easier to hit 100 MLI Select points
- Faster lease-up and lower vacancy because the product stands out
Experienced teams like Christine and Jen’s are leasing buildings pre-completion or within weeks — while some off-market or poorly designed projects sit vacant for months.
Final Thoughts: 2025 Is the Year to Get Into Canadian Multi-Family
With interest rates stabilizing, population growth exploding, and CMHC offering unprecedented leverage, the window for 95% financed, cash-flowing, purpose-built rentals has never been wider.
The most successful investors right now are partnering with experienced developers who already have:
- Land under contract
- Designs that max out MLI Select points
- Proven construction and management teams
If you’re ready to explore 2025–2026 opportunities in Edmonton or elsewhere in Canada, book a no-obligation call with the team that’s actually doing these deals every day.
Ready to put only 5% down on your next multi-family project? Click below to schedule your strategy session and receive full pro formas and renderings.
Book Your Strategy CallLimited spots available for qualified investors.
Frequently Asked Questions
CMHC sets a maximum “affordable” rent by city. In Edmonton, it’s currently $1,665/month — which is at or above market for many 1- and 2-bedroom units. In lower-rent cities like Windsor, the affordable cap can be half of market, killing cash flow.
No — CMHC wants liquid assets. However, many investors refinance other properties first to free up cash.
Location, floor plan, and operations matter more than ever. Well-located, properly designed buildings with strong management are leasing faster than ever. Poorly executed projects are the ones struggling.
No — the team operates Canada-wide (Ontario, BC, New Brunswick, etc.). However, Alberta currently offers the best combination of CMHC leverage + market rents + growth.
CMHC MLI Select is a government-backed financing program that offers up to 95% loan-to-cost on new construction multi-family projects with 50-year amortization. To qualify for maximum benefits, projects must score 100+ points across affordability, energy efficiency, and accessibility categories. This program dramatically reduces the capital required from investors while providing limited recourse protection.
Edmonton combines strong economic growth, no rent control, landlord-friendly policies, and the 6th most affordable housing in Canada. The city plans to double its population in the next decade while maintaining limited new supply, creating strong rental demand. Alberta’s no provincial sales tax and high wages also give residents more disposable income for rent.
Minimum requirements vary by project size. For 8-unit projects, investors typically need $500K-$600K net worth and $210K-$240K in liquidity. For larger 20-unit projects, requirements are approximately $2.16 million net worth and $865,000 in liquidity. Many investors meet these through joint ventures or partnerships.
New construction offers minimal capital expenditures for years due to warranties, modern layouts that appeal to today’s renters, easier qualification for maximum MLI Select points, and faster lease-up times. Purpose-built rentals designed for the program can achieve the full 95% financing that existing buildings cannot easily access.
Yes. CMHC’s affordable rent cap in Edmonton is currently $1,665/month, based on 2025 numbers, which equals or exceeds market rates for many 1- and 2-bedroom units. This makes Edmonton ideal for MLI Select projects, unlike lower-rent markets where affordable caps can be 50% below market rates.
Yes, but only through CMHC MLI Select when you achieve 100+ points. Standard CMHC programs max out at 40-year amortization. The extended 50-year term significantly lowers monthly payments, improving cash flow and making projects more attractive to investors.
