CMHC sets significant eligibility criteria to access this competitive program, focused on low-interest loans and (to a lesser extent) grants.

There are criteria like energy efficiency, affordability, and accessibility. Many co-ops will find the criteria very difficult (or even impossible) to achieve for renovation projects. Beyond that, there are evaluations based on how well other priorities are met. Leasehold co-ops with fewer than 20 years remaining on their leases will not be able to apply, but others may find the possibility of loans at lower interest rates than private lenders can offer — and grants — attractive options.

Learn more here: https://www.cmhc-schl.gc.ca/en/nhs/co-investment-fund—housing-repair-and-renewal-stream