As housing affordability and rental availability continue to dominate real estate conversations in Calgary, the CMHC MLI Select program has emerged as a powerful financing tool for developers and investors building multi-unit residential properties.

What is CMHC’s MLI Select?

MLI Select is a multi-unit mortgage insurance product launched by Canada Mortgage and Housing Corporation (CMHC) to encourage the creation of affordable, accessible, and energy-efficient rental housing. It offers significantly better financing terms compared to standard CMHC products, including:

• Up to 95% loan-to-value (LTV)
• Amortizations up to 50 years
• Reduced premiums
• No debt service coverage ratio minimums (if you qualify for the full incentives)

This makes it particularly attractive in a market like Calgary, where strong in-migration and tight vacancy rates are driving demand for long-term rental supply.

Why Calgary Developers & Investors Are Choosing MLI Select

With Calgary’s rental market vacancy rate dropping below 2.5% and demand outpacing supply, developers are leveraging MLI Select to make purpose-built rentals more viable.

Here’s why it works so well in Calgary:

• Affordability Focus: Many neighborhoods, including Forest Lawn, Ogden, and Bowness, qualify for affordable rent thresholds under MLI Select.
• Energy-Efficient Incentives: Builders already targeting Net Zero or ENERGY STAR® standards in communities like Currie Barracks or University District can benefit from higher points in the MLI Select scorecard.
• Zoning Support: Calgary’s recent blanket rezoning initiative supports multi-unit development, increasing eligible project sites.

Who Should Consider It?

Ideal candidates for MLI Select include:

• Developers of 4-plexes and larger multi-unit buildings
• Investors converting buildings into multi-family rentals
• Non-profit housing providers
• Long-term holders of rental properties

Key Requirements to Qualify

MLI Select operates on a point-based system, where projects must score a minimum of 50 points out of 100 across three categories:

1. Affordability (e.g., % of units below median rent)
2. Energy Efficiency (e.g., modeled or actual energy performance)
3. Accessibility (e.g., units that meet universal design or accessibility standards)

Final Thoughts

As Calgary’s population continues to grow and renters seek stable housing options, MLI Select is unlocking a new era of sustainable rental development. If you’re planning a multi-family project or looking to invest long-term, now’s the time to explore this CMHC-backed opportunity.

To learn more about what Calgary’s bustling real estate market has to offer, contact the Top Calgary Real Estate Team today!

Justin Warthe
Team Lead
403-620-8746
jw@topcalgaryrealestate.com