Open
Source verified August 10, 2026
APCHQ — Apartment Construction Loan Program: Student Housing
Low-cost financing for student housing
Funding available
$ 1,000,000
Deadline
Open continuously
Location
Canada
Overview
The Apartment Construction Loan Program: Student Housing offers low-cost financing for student housing projects, with loan amounts starting at $1 million and up to 100% loan-to-cost for residential space. It supports the construction of student housing and the conversion of non-residential buildings into student housing.
/100
Opportunity Score
Moderate potential, but conditions must align.
At a glance
Funding available
Financing goals
- 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
- Public or Parapublic institution
Annual revenue
- All revenue ranges
Organisation size
- All organization sizes
Audience
- All groups
Non-profit candidates
Sector of operation
- All industries
Target groups
- All the groups
Revenue structures
- All structures
Scope
- All dimensions
Next Steps
1
Determine your project
2
Validate your eligibility
Activities funded
- Construction of new on-campus student housing buildings with at least 5 rental units.
- Construction of new off-campus, self-contained student housing projects located near a post-secondary campus.
- Conversion of existing non-residential buildings into on-campus student housing.
- Conversion of existing non-residential buildings into off-campus, self-contained student housing close to a post-secondary institution.
- Development of long-term, purpose-built rental housing projects specifically designed to meet local student housing needs.
Documents Needed
- Integrity Declaration
- Required Documentation Checklist
- Project Assessment Workbook – Student Housing
- Appraisal report
- Financial statements and development experience documents
Official resources
Application form
Eligibility
Who is eligible?
- Post-secondary educational institutions
- For-profit developers
- Non-profit developers
- Other levels of government
Eligible expenses
- Construction costs for new student housing units in residential space.
- Costs to convert existing non-residential buildings into student housing.
- Development and construction expenses for non-residential components of the project, up to 75% loan-to-cost.
- Interest costs during construction, financed by the loan as interest-only payments.
- Principal and interest payments on the loan from stabilization to the end of the term.
Eligible geographic areas
- Businesses and organizations located in Canada (federally administered by Canada Mortgage and Housing Corporation).
Selection criteria
- Meet or exceed the mandatory minimum requirements.
- Demonstrate greater social outcomes that contribute to vibrant, socially inclusive neighbourhoods.
- Address a need for supply in the market.
How to apply
- Step 1: Prepare application documents
- Review the Required Documentation Checklist to identify all documents needed at the application stage.
- Complete the Project Assessment Workbook – Student Housing.
- Complete and sign the Integrity Declaration.
- Step 2: Create account and draft application in CMHC portal
- Sign in or create an account on the CMHC portal.
- Start a draft application for the Apartment Construction Loan Program: Student Housing.
- Enter project and borrower information as required in the portal.
- Upload the completed Project Assessment Workbook, Integrity Declaration and other required documents listed in the Required Documentation Checklist.
- Work with your CMHC specialist to ensure your draft application is complete.
- Step 3: Submit complete application
- After your CMHC specialist confirms that your draft application is complete, submit the application through the CMHC portal.
- Upload any remaining required documents to ensure the application is complete.
- Step 4: Prioritization and conditional approval
- CMHC reviews the application for readiness, eligibility and completeness.
- Respond to any CMHC requests for clarification or additional information, if applicable.
- If selected, receive a conditional approval within 30 days of complete submission.
- Review the conditional approval to understand the terms, conditions and additional documents required for underwriting.
- Step 5: Underwriting by CMLS
- Provide CMHC’s external service provider, CMLS, with all documents required for underwriting as outlined in the conditional approval.
- Pay the application fees in accordance with the Program Highlight Sheet.
- Submit all underwriting documentation within 90 days of conditional approval.
- Await completion of the underwriting process by CMLS, which may take up to 60 days after all documents are received.
- Step 6: Review and sign term sheet
- Receive the term sheet from CMHC if the application is successful.
- Review the key financing terms and conditions in the term sheet.
- Sign the term sheet and return it to CMHC.
- Step 7: Loan agreement issuance and acceptance
- Wait for CMHC to issue the loan agreement within 40 days of receiving the signed term sheet.
- Review the loan agreement to confirm that it reflects the agreed terms.
- Sign the loan agreement and return it to CMHC within 30 days.
- Step 8: First advance and loan servicing
- After the loan agreement is fully executed, begin the funding process with monthly construction draws.
- Coordinate with CMLS, which will administer the loan on behalf of CMHC.
- At the end of the loan term, arrange to transfer the CMHC-insured mortgage to a CMHC-approved lender.
Processing and Agreement
- Your application will be reviewed for readiness, eligibility and completeness, and only complete applications will be 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, you must pay the application fees, and you have up to 90 days to submit the necessary documents.
- Successful applicants receive a term sheet and then a loan agreement; CMHC issues the loan agreement within 40 days of receiving the signed term sheet, and you have 30 days to accept and return it.
- Once the loan agreement is fully executed, monthly construction draws begin, CMLS administers the loan, and borrowers must transfer the CMHC-insured mortgage to a CMHC approved lender at the end of the term.
Contacts
Frequently Asked Questions about the APCHQ — Apartment Construction Loan Program: Student Housing Program
What is the APCHQ — Apartment Construction Loan Program: Student Housing?
The Apartment Construction Loan Program: Student Housing offers low-cost financing for student housing projects, with loan amounts starting at $1 million and up to 100% loan-to-cost for residential space. It supports the construction of student housing and the conversion of non-residential buildings into student housing.
How much funding can be received?
APCHQ — Apartment Construction Loan Program: Student Housing Funds up to 100% of admissible expenses.
Who is eligible for the APCHQ — Apartment Construction Loan Program: Student Housing program?
To be eligible for the APCHQ — Apartment Construction Loan Program: Student Housing program, you must:
Eligible borrowers include post-secondary educational institutions, for-profit developers, non-profit developers and other levels of government.
All projects must have at least 5 rental units and respond to a need for student housing.
The project must be permanent in nature and have a primary residential use.
What expenses are eligible under APCHQ — Apartment Construction Loan Program: Student Housing?
Construction of new on-campus student housing buildings with at least 5 rental units.
Construction of new off-campus, self-contained student housing projects located near a post-secondary campus.
Conversion of existing non-residential buildings into on-campus student housing.
Conversion of existing non-residential buildings into off-campus, self-contained student housing close to a post-secondary institution.
Development of long-term, purpose-built rental housing projects specifically designed to meet local student housing needs.
Who can I contact for more information about the APCHQ — Apartment Construction Loan Program: Student Housing?
You can contact Canada Mortgage and Housing Corporation (CMHC) by email at centrecontact@schl.ca or by phone at 1-800-668-2642.
Where is the APCHQ — Apartment Construction Loan Program: Student Housing available?
The APCHQ — Apartment Construction Loan Program: Student Housing program is available across Canada.
Is the APCHQ — Apartment Construction Loan Program: Student Housing a grant, loan, or tax credit?
APCHQ — Apartment Construction Loan Program: Student Housing is a Loans and Capital investments