As Edmonton grows, more people are looking for housing in mature neighbourhoods. With limited space, builders are finding ways to create new homes in these established areas. One of the best ways to do this is through multi-family infill projects, which build multiple homes on a single lot. This is becoming more popular, and the CMHC MLI Select financing program is helping make it possible.
What is the CMHC MLI Select Financing Program?
The CMHC MLI Select financing program offers special loans and support for builders working on multi-family infill housing. This program is designed to help create affordable housing, with incentives for builders who meet specific goals, like adding more than five units to a lot. By offering low-interest loans and other financial benefits, this program is making it easier for developers to invest in infill housing in Edmonton.
How Zoning Bylaws are Helping
Recent changes to zoning bylaws in Edmonton are also making it easier to build multi-unit infill housing. In the past, building several homes on one lot was restricted in many areas. Now, the city is encouraging infill development in Edmonton to increase the number of homes available, especially in older neighbourhoods. These new bylaws allow builders to add more units to a single lot, which means more housing options for everyone.
Why Densifying Mature Neighborhoods Is Popular
Densifying mature neighbourhoods means adding more homes to areas that already have good access to schools, parks, and public transportation. People want to live in these areas because they are close to important services and have a community feel. By building multi-family infill projects, more families can move into these established neighbourhoods without needing to spread the city further out.
Not only does this provide affordable housing options, but it also helps reduce urban sprawl, making Edmonton a more connected and efficient city.
The Benefits of Financing for Multi-Family Infill Projects
For builders, the CMHC MLI Select financing program offers great financing options for infill projects. The program encourages builders to create affordable multi-family housing by offering better loan terms if they meet certain goals, such as increasing energy efficiency or offering more affordable rent prices.
For homeowners and renters, this means more affordable and sustainable housing options in neighbourhoods that already have the amenities people want.
Is Infill Housing Right for You?
If you're considering building or investing in infill housing in Edmonton, this could be the perfect time. With urban densification and new financing programs in place, it’s easier than ever to build in established areas of the city. The team at Anthony Developments can help guide you through the process and ensure your project benefits from the latest financing options and zoning changes.
Contact us today to learn more about how we can help you get started with your multi-family infill project in Edmonton. Let’s create the homes that will shape the future of our city!