How Accessibility Design Can Help You Qualify for CMHC MLI Select Financing
- 10 minutes ago
- 4 min read
When you plan a new building project or renovate an existing one, accessibility should be a top priority. Not only does it make your property more inclusive and welcoming, but it can also open doors to better financing options. One way to contribute to your MLI Select score is by incorporating accessibility design as part of your project’s commitments. Depending on the project’s MLI Select score and eligibility, these commitments may help access more favourable financing options, including higher LTV/LTC and longer amortization periods.
In this post, I’ll walk you through why accessibility matters, how it ties into CMHC financing, and how MLI Select can be a game-changer for your multifamily projects. I’ll also share practical tips on integrating accessibility features and highlight some useful products that can support your goals.
Why Accessibility Design Matters in Building Projects
Accessibility design means creating spaces that everyone can use comfortably, including people with disabilities, seniors, and families with young children. This includes features like wider doorways, ramps, grab bars, accessible kitchens, and bathrooms designed for ease of use.
Making your building accessible is not just about compliance with laws or regulations. It’s about future-proofing your property and expanding your market. Here’s why it matters:
Broader Tenant Base
Accessible units attract a wider range of tenants, including those who need special accommodations. This can reduce vacancy rates and increase demand.
Improved Property Value
Buildings with accessibility features often have higher resale values. Buyers see them as more versatile and ready for diverse occupants.
Social Responsibility
Designing for accessibility shows you care about inclusivity and community well-being. This can enhance your reputation and relationships with local authorities.
Better Financing Opportunities
Programs such as CMHC's MLI Select may offer more favourable financing terms for projects that meet their eligibility requirements.
How Accessibility Design Helps You Get CMHC Financing
CMHC offers financing programs that support affordable and accessible housing. One of the key benefits is the ability to secure high loan-to-value ratios and extended amortization periods, which reduce monthly payments and improve cash flow.
When your project includes accessibility features, it aligns with CMHC’s goals of promoting inclusive housing. This alignment can make your application more attractive and increase your chances of approval.
What is MLI Select?
MLI Select is a specialized mortgage loan insurance product offered by CMHC. It is designed to support multifamily rental projects with flexible terms, including:
Up to 95% loan-to-value (LTV)
Amortization periods up to 50 years
Competitive interest rates
These terms make it easier to finance large projects while keeping your monthly costs manageable.
By incorporating accessibility design, you demonstrate your commitment to quality and inclusivity, which fits well with MLI Select’s criteria. This can help you unlock these favorable financing options.
Accessible design improves tenant experience and supports financing approval.
Practical Tips for Incorporating Accessibility in Your Buildings
To benefit from CMHC financing and MLI Select, your building must meet certain accessibility standards. Here are some practical steps to consider:
1. Plan Early for Accessibility
Involve architects and designers who specialize in accessible design from the start. This ensures that accessibility features are integrated seamlessly rather than added as an afterthought.
2. Focus on Key Accessibility Features
Some essential features include:
Step-free entrances and ramps
Wider hallways and doorways designed to meet applicable accessibility standards
Accessible kitchens with lower countertops and pull-out shelves
Bathrooms with grab bars, roll-in showers, and accessible sinks
Clear signage and good lighting
3. Use Quality Materials and Products
Choosing the right materials can improve durability and ease of use. For example, installing cabinets designed for accessibility can make kitchens more functional for everyone.
One product that stands out is the MLI Select program itself, which supports financing for projects that include these features. While MLI Select is a financing product, pairing it with quality building materials from trusted suppliers ensures your project meets both design and financial goals.
4. Consult Local Codes and CMHC Guidelines
Make sure your design complies with local building codes and CMHC’s accessibility requirements. This will smooth the approval process and avoid costly redesigns.
How Cabinets to Kitchens Supports Accessibility and Financing Goals
When upgrading kitchens in multifamily buildings, accessibility is key. Cabinets to Kitchens offers premium kitchen solutions that can be customized for accessible design. Their products include:
Adjustable shelves and pull-out drawers for easy reach
Soft-close doors and drawers for safety
Durable materials that withstand heavy use
These features help create kitchens that are both beautiful and accessible, enhancing tenant satisfaction and supporting your financing application.
You can explore their offerings at Cabinets to Kitchens.
Accessible kitchen cabinets improve usability and tenant comfort.
Benefits of Using MLI Select for Your Multifamily Project
MLI Select is not just about financing; it’s about making your project financially sustainable. Here’s how it helps:
Lower Down Payment
With up to 95% LTV, you can invest less upfront and keep more capital for other project needs.
Longer Amortization
A 50-year amortization spreads out payments, reducing monthly costs and improving cash flow.
Competitive Rates
CMHC-backed loans often have better interest rates than conventional financing.
Supports Accessibility
Projects that include accessibility features align with CMHC’s goals, increasing your chances of approval.
By combining MLI Select financing with accessible design, you create a win-win situation: a building that serves more people and a financing plan that supports your investment.
Final Thoughts on Accessibility and Financing
Incorporating accessibility design in your buildings is more than a legal or ethical choice. It’s a smart financial move that can help you secure better financing through CMHC’s MLI Select program. By planning early, focusing on key features, and using quality products like those from Cabinets to Kitchens, you set your project up for success.
If you want to make your multifamily project stand out and access up to 95% LTV with a 50-year amortization, start by prioritizing accessibility. It’s an investment in your property’s future and your financial health.
Take the next step by consulting with your architect and lender about MLI Select and explore accessible building materials that fit your vision.
This post is for informational purposes only and does not constitute financial advice. Please consult with a professional for your specific project needs.
