The Growing Demand for Senior Living
Canada is aging fast. By 2040, nearly a quarter of Canadians will be over 65. In Alberta, that shift is already being felt. Families are looking for safe, comfortable, and accessible places for parents and grandparents to live. The challenge? Building long-term care and senior housing facilities is expensive.
This is where CMHC’s MLI Select program comes into play. By offering low down payments and extended amortizations, it helps developers and investors bring more of these much-needed facilities to life, while still making the numbers work.
Why Senior Housing Fits MLI Select So Well
One of MLI Select’s biggest features is its points system, which rewards projects that focus on accessibility, affordability, or sustainability. Senior housing naturally checks many of these boxes:
- Wheelchair-accessible hallways and elevators
- Barrier-free bathrooms and kitchens
- Safer layouts designed with older residents in mind
That means developers don’t just meet community needs, they also qualify for the best financing terms available.
The Financial Edge for Developers
The numbers are compelling. Let’s say you’re planning a $10M senior housing project:
- Traditional financing (25% down): $2.5M upfront
- MLI Select financing (5% down): $500K upfront
That’s $2M in savings right away, capital that can be reinvested into staffing, amenities, or even a second project. And with up to 50-year amortizations, monthly mortgage payments are lower, cash flow is easier to manage, and operations become more sustainable.
Why Alberta Is the Perfect Fit
Alberta offers unique advantages for building and operating senior housing:
- Lower construction and land costs compared to Toronto or Vancouver
- Population growth, including retirees moving west for affordability
- Long-term tenant stability, since seniors typically stay for years once settled
This creates a reliable and steady income stream, making senior housing not only a community need but also a resilient investment.
A Win-Win: Purpose and Profit
What makes MLI Select stand out is that it blends social impact with financial reward. Investors aren’t just buying into another property; they’re helping solve a growing housing challenge while benefiting from financing designed to make projects sustainable.
Final Thoughts
Senior housing isn’t just about real estate; it’s about building homes with dignity for people who deserve it most. With MLI Select, developers and investors can meet that demand in Alberta while securing financing that actually works in their favor.
