Canada Mortgage and Housing Corporation (CMHC) has announced its new Frequent Builder framework to speed the creation of affordable and rental homes by expediting the application process for housing providers.
The new framework will target experienced housing providers who access funding through the largest National Housing Strategy (NHS) programs, the Affordable Housing Fund (AHF) and the Apartment Construction Loan Program (ACLP). CMHC established separate eligibility criteria for government entities, including Indigenous governments, for-profit developers, and nonprofit developers, and housing providers who meet the criteria will be automatically approved to receive Frequent Builder status.
Housing Minister Sean Fraser acknowledged the new initiative comes in the wake of “a shortage of affordable housing in Canada, so if you’re a housing provider, we want you to build. The Frequent Builder framework will allow experienced housing providers to access construction financing through the National Housing Strategy faster and get more projects off the shelf and shovels in the ground.”
“We are excited to launch the Frequent Builder framework as it will better support housing providers in building the housing we need and do it more quickly,” said Coleen Volk, president and CEO of CMHC. “This new framework will also support CMHC’s new service standard of Affordable Housing Fund and Apartment Construction Loan Program applications receiving conditional approval within 30 days and full approval within 60 days.”
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