Terrahills delivers multi-residential construction across Ontario (stacked townhomes, low-rise apartments and mid-rise purpose-built rental) for private developers, non-profit housing providers and co-operatives, with direct experience structuring projects under CMHC MLI Select and the Rental Construction Financing Initiative.
Purpose-built rental is the main driver of Ontario housing starts in 2026 while condominium pre-sales stay weak. The projects that close are the ones structured for CMHC insured financing from the first feasibility run: MLI Select rewards affordability, energy efficiency and accessibility with points that unlock up to 95% loan-to-cost and amortizations to 50 years. Those points are earned in design and proven in construction documentation, which is why the lender's requirements have to shape the building rather than be retrofitted onto it.
Our scope covers the full lifecycle: land acquisition consultation, official plan amendments, zoning by-law applications, site plan approval, servicing, architectural coordination, and construction management from permit to occupancy, with the CMHC documentation managed through the build. That is the complete multi-residential delivery under one contract, and it applies equally to a market-rate mid-rise in Hamilton and a mixed-income non-profit project in Simcoe County.
We have direct experience structuring projects under CMHC MLI Select insured financing (the Energy Efficiency, Affordability and Accessibility streams) and the Rental Construction Financing Initiative (RCFI), managing construction timelines, documentation and building standards to satisfy CMHC lender requirements throughout the build. That covers stacked townhomes, low-rise and mid-rise apartments, condominiums, mixed-income and transit-oriented development, and affordable housing.
Six stages, one contract
The same delivery model as every Terrahills project (land, approvals, servicing, structure, envelope, handover) applied to what a multi-residential building actually requires.
Site selection against servicing allocation and the secondary plan; a Class C estimate structured for CMHC MLI Select from the first run, so the capital stack is tested before land is committed.
OPA and zoning amendments, minor variances and site plan approval carried by us. The approvals track is usually longer than the build, and it sets the procurement calendar.
Affordability, energy-efficiency and accessibility points designed in; the construction documentation the insured lender requires managed through the build, not assembled at the end.
Water, sanitary, storm and hydro to the municipality's standard; stormwater management and grading sequenced so foundations start the moment approvals land.
Wood, mass timber, steel or concrete to the height and OBC Part 3 requirements; an envelope that earns the CMHC energy points; suites finished to a repeatable standard across the building.
Phased occupancy where the building allows it, commissioning documentation for the lender, and handover timed to the leasing programme.
Markets we know building by building
One sector in one market, with the soils, approvals, funding tiers and pipeline that actually change the job.
Delivered Multi-Residential
Land planning advisory for a 50-unit waterfront townhouse development in Pickering ($18M transaction, 2021) and current planning services for a 20-storey apartment building in London show the front end of the scope; the Markham and Toronto design-build programs show the delivery.
Multi-Residential cost bands, Ontario 2026
| Building type | Hard cost, $ / sq ft | Basis | What moves it |
|---|---|---|---|
| Purpose-built rental, ≤ 12 storeys | $245 – $390 | 2026 GTA benchmark | Structure type (wood, steel, concrete), below-grade parking, unit mix, energy tier for CMHC points |
published 2026 Ontario construction cost benchmarks, GTA hard costs. Land, development charges, parking structure and soft costs sit outside the band. CMHC MLI Select reaches up to 95% loan-to-cost with amortizations to 50 years at the top of the points scale.
Questions clients ask about multi-residential & purpose-built rental construction
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