Open
Source verified August 10, 2026
Apartment Construction Loan Program: Seniors Rental Housing
Low-cost financing for seniors housing construction and conversion
Funding available
$ 1,000,000
Deadline
Open continuously
Location
Canada
Overview
Apartment Construction Loan Program: Seniors Rental Housing offers low-cost financing to for-profit developers, non-profit developers, and other levels of government for seniors housing. It supports construction of seniors housing and conversion of non-residential buildings, with accommodation for independent living.
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Opportunity Score
Moderate potential, but conditions must align.
At a glance
Funding available
Financing goals
- Increase social or community impact
- Obtain certifications or accreditations
- Reduce environmental footprint
Eligible Funding
- Minimum amount : 1,000,000 $
- Up to 100% of project cost
Funds Providers
Eligible candidates
Eligible Industries
- All industries
Location
- Canada
Legal structures
- For-profit business
- Non-profit
Annual revenue
- All revenue ranges
Organisation size
- All organization sizes
Audience
- Canadians
Non-profit candidates
Sector of operation
- All industries
Target groups
- Seniors
Revenue structures
- All structures
Scope
- All dimensions
Next Steps
1
Determine your project
2
Validate your eligibility
Activities funded
- Construction of seniors housing.
- Conversion of non-residential buildings into seniors housing.
Documents Needed
- Required Documentation Checklist
- Project Assessment Workbook
- Integrity Declaration
- Energy Efficiency Criteria Attestation
- Accessibility Criteria Attestation
Official resources
Application form
Eligibility
Who is eligible?
- For-profit developers
- Non-profit developers
- Other levels of government
Eligible expenses
- Up to 100% of eligible costs related to residential spaces in the seniors’ rental housing project.
- Up to 75% of eligible costs related to non-residential spaces within the same building.
- Interest payments during construction, which are financed through the loan until the project reaches 12 months of stable gross income.
Eligible geographic areas
- Businesses located anywhere in Canada, as this is a federal program administered by the Canada Mortgage and Housing Corporation (CMHC).
Selection criteria
- Projects that meet or exceed the mandatory minimum requirements.
- Projects that demonstrate greater social outcomes that contribute to vibrant, socially inclusive neighbourhoods.
- Projects that address a need for supply in the market.
How to apply
- Step 1: Prepare required documents
- Review the Required Documentation Checklist.
- Complete the Project Assessment Workbook.
- Complete the Integrity Declaration.
- Step 2: Access the CMHC portal
- Sign in or create an account on the CMHC online portal.
- Review the portal guide before starting.
- Step 3: Submit the application
- Upload the completed forms and supporting documents to the portal.
- Submit the complete application through the CMHC portal after confirmation from your CMHC specialist.
- Step 4: Underwriting and decision
- CMHC reviews the application for readiness, eligibility, and completeness.
- If selected, the application receives conditional approval, then moves to CMLS Financial for underwriting.
- Step 5: Complete post-approval steps
- Review and sign the term sheet.
- Accept and return the loan agreement within the required timeframe.
- Begin the first advance once the loan agreement is fully executed.
Processing and Agreement
- Complete applications are reviewed for readiness, eligibility and completeness, and only complete applications are reviewed.
- Selected applications receive a conditional approval within 30 days of complete submission, and the conditional approval outlines the terms, conditions and additional required documents for underwriting.
- After conditional approval, the application is sent to CMLS for underwriting, and you have up to 90 days to submit the necessary documents; once CMLS confirms receipt, underwriting can take up to 60 days.
- Successful applicants receive a term sheet and then a loan agreement within 40 days of receiving the signed term sheet; you have 30 days to accept and return the signed loan agreement.
- The funding process with monthly construction draws begins once the loan agreement has been fully executed, and at the end of the term borrowers must transfer the CMHC-insured mortgage to a CMHC approved lender.
Additional information
- CMHC mortgage loan insurance is automatically included with the loan; the borrower does not pay the insurance premium but may have to pay applicable provincial sales tax on it.
- At term maturity, borrowers must obtain post-construction mortgage financing from a CMHC-approved lender to take over the insured loan.
- Interest payments during construction are financed by the loan itself until occupancy permit and then paid by the borrower until the project reaches 12 consecutive months of stable gross revenue.
- The program is administered operationally by CMLS Financial as CMHC’s external service provider once conditional approval is issued.
Contacts
Frequently Asked Questions about the Apartment Construction Loan Program: Seniors Rental Housing Program
What is the Apartment Construction Loan Program: Seniors Rental Housing?
Apartment Construction Loan Program: Seniors Rental Housing offers low-cost financing to for-profit developers, non-profit developers, and other levels of government for seniors housing. It supports construction of seniors housing and conversion of non-residential buildings, with accommodation for independent living.
How much funding can be received?
Apartment Construction Loan Program: Seniors Rental Housing Funds up to 100% of admissible expenses.
Who is eligible for the Apartment Construction Loan Program: Seniors Rental Housing program?
To be eligible for the Apartment Construction Loan Program: Seniors Rental Housing program, you must:
Eligible borrowers include for-profit developers, non-profit developers, and other levels of government.
The project must provide accommodation for seniors to live independently and be permanent in nature.
The project must have at least 50 units, a loan size of at least $1 million, and the financial and operational ability to carry it without ongoing subsidies and meet debt coverage ratio requirements.
What expenses are eligible under Apartment Construction Loan Program: Seniors Rental Housing?
Construction of seniors housing.
Conversion of non-residential buildings into seniors housing.
Who can I contact for more information about the Apartment Construction Loan Program: Seniors Rental Housing?
You can contact Canada Mortgage and Housing Corporation (CMHC) by email at contactcentre@cmhc.ca or by phone at 1-800-668-2642.
Where is the Apartment Construction Loan Program: Seniors Rental Housing available?
The Apartment Construction Loan Program: Seniors Rental Housing program is available across Canada.
Is the Apartment Construction Loan Program: Seniors Rental Housing a grant, loan, or tax credit?
Apartment Construction Loan Program: Seniors Rental Housing is a Loans and Capital investments