CMHC MLI Select takeout financing is in place for a 31-unit multi-family rental project in Victoria, BC, known as “The Charlesworth.”
The Charlesworth offers seven layout types of boutique apartments. The interiors are meticulously designed to evoke a sense of modernity while balancing a respect for the history of this particular city block. Its prime location allows for a short walk to downtown, Beacon Hill Park, and the Dallas Road waterfront.
The rooftop terrace is undoubtedly one of this project’s most impressive features. Unobstructed views of the Juan de Fuca Strait and downtown Victoria give residents and guests a truly spectacular vantage point.
The MLI Select program allowed for superior leverage in our current rate environment and the ability to forward fix the rate up to four months in advance of funding.
Construction financing has been implemented for a 105-unit condominium project at RED Mountain Ski Resort known as “The Crescent.”
This resort has been named the number one ski town in Canada for the second consecutive year, in addition to being crowned as the mountain bike capital of Canada.
The project represents a market-leading product in the alpine recreation space of Central BC. Financing is being placed with a syndication of four lenders.
CMHC Construction and Seed Financing have been secured on behalf of a not-for-profit Edmonton-based seniors housing provider.
St. Michael’s Fenwyck Heights, a $54M project, will provide housing and support services to the seniors of Spruce Grove, Alberta and the surrounding area.
This 170-unit development will offer seniors independent living with support services, with suites ranging from studio to 2-bedroom units. Construction is scheduled to be complete by spring 2023.
Construction financing for this 43-unit rental development in Brooks, Alberta, has been secured. This CMHC approval under the “MLI Select” program proves that the program works extremely well for new purpose-built rental developments in rural communities.
The approval will see the developer, in partnership with CMHC, provide a meaningful contribution of affordable rental units to the tight Kelowna rental market in this 98-unit development.
Highly competitive non-recourse financing has been arranged, subsequently featuring two institutional-quality industrial assets in Vancouver and Richmond, British Columbia.
Knox Village is a 238 unit four-storey rental apartment complex in the Knox Mountain community. The plan is focused around an open space concept and will include one-, two-, and three-bedroom suites.
Knox Village residents will have access to excellent onsite amenities such as fitness facilities, a private clubhouse, and electric vehicle plug-ins. Knox Village will be situated in hillside heights – less than ten minutes to downtown Kelowna and only minutes away from Knox Mountain Park.
Vernon Street is set to feature this 125 unit seniors’ facility in Nelson, BC.
The project will offer rental units to seniors and access to assisted living services.
The six-storey building is planned to rise four floors above Vernon Street with two storeys at and just below street level – the lowest being a parking level. Commercial space occupies the street level, while apartment rentals will populate the upper four.
Northwest Health Centre is a three-storey medical building, totalling 25,936 square feet and situated in Calgary’s expanding Northwest.
Arcadia is a two-building, four-storey rental apartment complex with a total net rentable area of 128,477 square feet.
The subject property consists of 159 units, featuring: one- plus den, two-, two- plus den, and three-bedroom units, tailored to the suburban renter.