How could I use MLI Select to benefit my balcony development?

It’s true – using a modular balcony system could make the difference when it comes to increasing the value of your development. Here’s how.

What is MLI Select?

Using the Canada Mortgage and Housing Corporation’s (CMHC) MLI (Multi-Unit Loan Insurance) Select program, developers can be given financial incentives and rewards for building affordable, energy-efficient and accessible residential units.

The more affordable, energy-efficient and accessible the development, the more points the developer will be awarded.

What are the financial incentives?

The points earned from MLI Select can be used to access financial incentives. Each one provides the developer and the end-user with a range of benefits, including:

1. Lower mortgage insurance fees of up to 75% reduction.
2. Longer amortization periods of up to 50 years.
3. Reduced interest rates of up to 1.5% lower.
4. Access to preferential financing terms, with lenders confirmed to offer more attractive interest rates due to the lower risk associated with CMHC-backed loans.

Accessibility

Using a modular system designed by Sapphire means accessibility can be considered and implemented from the design stage.

Door reveals and thresholds are designed to be step-free, and balconies can have a 1.7m turning radius factored in (as per ACA requirements), both of which allow a wheelchair user to easily and independently navigate their way on and off the balcony.

Sustainability

Sapphire’s modular balcony systems contribute to energy efficiency by reducing thermal bridging and embodied carbon through innovative design. Each of our balconies is thermally broken by design and features just 1% of the thermal transmission compared to a traditional concrete alternative.

The prefabricated design minimizes construction waste, supports sustainable development goals and aligns with Toronto Green Standard to Tier 4 compliance. By using a modular, aluminum balcony, your project can achieve higher MLI points under the CMHC’s framework whilst ensuring compliance with strict urban sustainability standards.

What next?

Your next development could benefit from extended amortizations, lower insurance fees and reduced interest rates, significantly raising the value of your project. Incorporating a modular balcony system, aligning with schemes like Toronto Green Standard Tier 4 and maximizing the benefits of the MLI Select program could make your next development one to be envied.

To learn more about our modular system and how it could increase your development’s perceived value, get in touch with our team today.