If you own a lot in Metro Vancouver and you’re thinking about building rental units, the financing usually decides whether the project works. CMHC’s MLI Select program is one of the strongest tools available to small builders and investors right now, but it only applies to projects with five or more rental units, and the design has to be planned around it from day one.
That’s where we come in. My Home Designer plans, designs and builds small-scale multiplexes that are set up to qualify for MLI Select, from the first site check through permit drawings and construction.
What MLI Select offers
MLI Select is mortgage loan insurance from the Canada Mortgage and Housing Corporation (CMHC) for purpose-built rental housing. Projects earn points for affordability, energy efficiency and accessibility. The more points a project earns, the better the terms, which can include up to 95% loan-to-value and amortization of up to 50 years. Your lender or mortgage broker applies on your behalf and confirms which terms your project qualifies for.
The key requirement for small sites: a minimum of five rental units.
Why five units changes the math on a single lot
Under BC’s small-scale multi-unit housing rules (Bill 44), most single-family lots can now hold up to four units, and up to six on larger lots or near frequent transit. That means many Metro Vancouver lots can reach the five-unit threshold, either with a fiveplex or sixplex, or with a fourplex plus a laneway or garden suite, depending on your municipality’s bylaw.
Getting from four units to five is often the difference between conventional financing and MLI Select terms, so the layout needs to be planned with that target in mind.
How we design for MLI Select
- Site and zoning check. We confirm how many units your lot allows under your city’s SSMUH bylaw, plus setbacks, height and parking rules.
- Unit count and mix. We plan the layout to reach five or more units with rentable sizes, often including family-sized two- and three-bedroom suites.
- Energy points. We design to the BC Energy Step Code level that supports the energy points your financing plan needs.
- Accessibility points. Where it makes sense, we plan accessible or universal-design units from the start, so they’re not an expensive add-on later.
- Permit drawings. We prepare and submit the Part 9 drawing package and handle municipal comments.
- Construction. Through My Home Builder, we can build the project, giving you one team from design to occupancy.
Who this is for
- Homeowners who want to redevelop their lot into rental housing and keep it long term
- Small investors and builders looking at multiplex sites in Vancouver, Burnaby, North Vancouver, Coquitlam and across Metro Vancouver
- Non-profit and community housing groups planning small affordable rental projects
A note on financing advice
We’re designers and builders, not mortgage advisors. We design your project so it can meet MLI Select’s unit, energy and accessibility criteria, and we work alongside your lender or mortgage broker, who confirms eligibility and terms with CMHC.
For more on what’s allowed on your lot, see our SSMUH and multiplex design guide. When you’re ready to build, see how our construction team handles MLI Select multiplex construction.
Start with a site check
Send us your address and we’ll tell you how many units your lot can likely hold and whether an MLI Select multiplex is realistic there. Call 604-929-6696 or book a meeting.