CMHC Apartment Construction Loan Program
Also known as: ACLP
Low-cost repayable construction loans from CMHC — a $55B program (confirmed via multiple CMHC news releases, e.g. "The $55 billion Apartment Construction Loan Program (ACLP) is providing low-cost financing to support more than 131,000 new rental homes across Canada by 2031–2032") — for building new purpose-built rental housing across Canada, minimum $1M loan, up to 100% of the cost of the residential component. Takeout to CMHC-insured permanent financing at completion. Often stacked with MLI Select.
Who qualifies
- New construction of purpose-built rental housing, minimum loan $1,000,000, up to 100% of the cost of the residential component of the project
- No specific minimum unit count is stated on the ACLP page itself (checked 2026-07-10) — do not assert a fixed number to a client
- CORRECTED (deep research, 2026-07-10): the previously-cited fixed affordability test (≥20% of units at ≤30% of median income, for ≥10 years) is NOT current policy — CMHC's own 2024/25 Program Enhancements announcement states requirements were relaxed: "There are no longer minimum requirements relating to energy efficiency and accessibility, instead applicants will benefit from making stronger commitments to desired rental supply and social outcomes." Do not quote the old fixed percentage to a client.
- Fixed vs. variable rate and a flat "50-year amortization" are NOT stated as official ACLP terms — CMHC's multi-unit fee schedule instead shows an incremental surcharge for extended amortization, implying a tiered/negotiated structure rather than a guaranteed flat 50 years
- Borrower demonstrates project viability and financial capacity
- Open to private developers, non-profits, co-ops, and Indigenous housing organizations
- CMHC review typically 3–6 months; due diligence on land, permits, and capital stack required
Typical applicant
Developers and investors building new rental apartment buildings, particularly affordable or mixed-income projects in urban centres — frequently stacked with MLI Select
Verified against the official program page as of 2026-08-19. Programs change — always confirm current details with the program office before committing project spend.