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National Housing Co-Investment Fund: Black-led Organizations

Dedicated funding of up to 40% for new affordable housing for Black households

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This option of the National Housing Co-Investment Contribution Fund increases access to housing funding for Black-led organizations. The contribution funding supports Black-led* organizations to build housing benefiting Black households.

* As a guideline, an organization is deemed Black-led when at least two-thirds of its leadership and governance positions are occupied by people self-identifying as Black.

IMPORTANT

The National Housing Co-Investment Fund has several options available for new builds.
Get in touch with your CMHC specialist.

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Online Application Portal

Before starting your application, please take a moment to download, save, and review our application guide. The guide includes information required to create your profile and start the application process successfully.

Download the guide (PDF)Start your application

Have questions? Need further support? Contact one of our regional CMHC specialists.

Fund details

The Fund prioritizes partnerships between Black-led organizations and other partners like governments, non-profits and other such organizations.

Contribution Funding through the Co-Investment Fund supports organizations that have already partnered and secured funding but require more capital. It can be used to:

  • top-up funding – when you have most of your project funding secured and require top-up funding to close a funding gap
  • leverage other funding sources – get funding confirmation within 30 days of being prioritized that can then be used to secure funding from other sources

Contribution Funding provides:

  • an unsecured contribution that facilitates seamless integration into project financing structures. This can make it easier for you to attract other sources of funding.
  • more certainty on funding amounts* Please refer to the Viability Assessment Spreadsheet for more details.

* The Co-Investment’s Contribution funding amounts are based on lesser of per unit calculation, project needs or percentage of costs (Non-profits/coops = 40%.)

Eligibility requirements

Eligible applicants include:

  • Black-led organizations in Canada

Eligible projects include the construction of:

  • new community and affordable housing
  • mixed use market / affordable rental
  • conversion from a non-residential use to affordable residential
  • shelters
  • transitional and supportive housing

To be eligible your project:

  • must have a minimum of 5 units/beds
  • be primarily for residential use

Your projects must have support from another level of government such as:

  • a municipality
  • a province or territory

Partners will be required to contribute to the project including monetary or in-kind contributions.

Support can be in the form of investment of resources. It can also be in the form of a letter endorsing your project.

IMPORTANT: The Contribution Fund is targeted to projects that already have (or will be securing) most of their project funding from other sources. If you require more than 40% of funds already secured, apply through one of the other CMHC Programs, like MLI Select or the Rental Construction Financing Initiative.

Application and approval process

Applications are reviewed for readiness, eligibility and completion. CMHC will contact you if additional documentation or clarifications are required before starting the assessment and prioritization of your application.

TIP: Review the required documents needed throughout the process.

To effectively create your application:

  1. Talk to your CMHC specialist to help you gather the required documentation (see the required documentation checklist (PDF) and product highlight sheet (PDF)).
  2. You must submit the Financial Viability Assessment (XLSX), the Integrity Declaration (PDF) as well as the Accessibility Criteria (PDF) and the Energy Efficiency Criteria (PDF) Attestations.
  3. Submit your application in the application portal AFTER you have received confirmation from your CMHC specialist.

Approval process and timelines

  1. Contribution funding commitment (up to 30 days)
    You’ll receive a contribution agreement confirming CMHC’s conditional approval of funding for the project if your application is deemed complete.
  2. Meet funding conditions (you have up to 6 months to satisfy all conditions)
    Your CMHC Specialist will continue to work with you to meet all conditions outlined in the agreement. You must satisfy conditions within the set time frame, or you may be at risk of a cancellation of the application or changes to CMHC’s funding commitment.
  3. First advance (required documentation must be provided 10 days before each drawdown date)
    The Contribution Agreement will outline the process and any supporting documentation needed to request an advance from CMHC.

Before you begin the application process, contact your CMHC specialist to help you prepare and gather the required documentation for your application submission.

Start your application

Before you begin the application process, contact your CMHC housing specialist to help you prepare and gather the required documentation for your application submission.

Talk to a specialist

Once you have all required documentation and have spoken to your CMHC specialist, upload your documents and fill out the application in our portal.

I’m ready to apply

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Date Published: June 24, 2022

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