Introduction: Meeting the Needs of an Aging Population
Canada’s population is not only growing, it’s aging. Seniors over 65 are expected to make up nearly 25% of Canadians by 2040. In Calgary and Edmonton, this demographic shift is already creating urgent demand for long-term care and senior housing facilities.
The CMHC MLI Select program is uniquely designed to help meet this need. With just 5% down and amortizations up to 50 years, it empowers developers and investors to build or acquire senior-friendly housing facilities while maintaining strong financial performance.
How MLI Select Helps Long-Term Care Projects
The points-based structure of MLI Select aligns perfectly with senior housing:
- Accessibility Points: Senior housing naturally includes features like elevators, wider doorways, wheelchair access, and adapted bathrooms.
- Affordability Points: Offering units at affordable rates helps secure higher financing benefits.
- Climate Efficiency Points: Newer builds or retrofits for energy efficiency make facilities cheaper to operate and greener.
By hitting these criteria, senior living facilities can qualify for:
- 5% down payment financing
- Up to 50-year amortization, ensuring stable, predictable payments
- Reduced debt service requirements, making projects financially feasible
Example: Building a Senior Facility in Calgary
- Development Cost: $10 million
- Traditional Financing: 25% down = $2.5 million upfront
- MLI Select Financing: 5% down = $500,000 upfront
That’s a difference of $2 million in saved capital, which can be reinvested into additional care units, medical amenities, or another project entirely.
Why Alberta Is the Right Market
- Growing senior population: Thousands of retirees from Ontario and B.C. are relocating to Alberta for affordability.
- Government & healthcare hub: Edmonton’s strong public sector supports health services expansion.
- High demand, limited supply: Vacancy rates for senior housing are low, with waitlists in many communities.
Conclusion: Building Value with Purpose
With MLI Select, investing in senior housing is no longer just about returns; it’s about impact. Investors can access powerful financing incentives while delivering essential housing for an aging population.
👉 In Alberta, this means pairing financial strength with social good, a winning strategy for long-term resilience.
