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UPPING ENERGY PERFORMANCE IN 2026
As we head into spring, it’s clear that Canada’s apartment sector is navigating a convergence of pressures unlike anything seen in recent decades. Rising operating costs, persistent supply shortages, and mounting climate risks are reshaping how rental housing is planned, financed, and maintained. In other words, the demand for cleaner, more efficient, and more resilient buildings has become impossible to ignore. Energy performance and sustainability are now central considerations in the way multi-residential properties are evaluated across the country.
A major driver of this shift is the age of Canada’s rental stock. Many multi-residential buildings are now 30 to 60 years old and require significant upgrades to remain functional and competitive. Aging mechanical systems, inefficient envelopes, and escalating utility costs are prompting owners and operators to rethink long-term asset strategies. Climate-related challenges—extreme heat, flooding, and grid instability—are further accelerating the need for resilience-focused renewal.
In this issue, we explore the top energy-efficiency upgrades gaining traction in 2026, the government programs and financing tools available to support building improvements, and the practical, cost-effective measures owners can adopt to prepare for a changing climate.
Throughout these discussions, affordability remains a critical factor. Energy-efficiency improvements are increasingly recognized as a way to stabilize long-term operating costs, protect renters from rising utilities, and ensure that sustainability goals do not compromise housing security. The intersection of energy performance and affordability is where Canada’s housing policy is most active, and where the apartment sector is experiencing its most significant transformation.
We hope you enjoy this issue, and we invite you to visit www.RemiNetwork.com for daily news, analysis, and insights shaping the future of Canada’s rental housing industry.
Sincerely,
Erin Ruddy
Editor Erin Ruddy
Senior Graphic Designer Roxy Huynh-Guinane
Graphic Designer Amanda Spearman
Production Manager Ines Louis
National Sales Andrea Almeida Ron Guerra
Digital Media Director Steven Chester
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Q1 Rental Market Insights
Demand eases but resilience holds
Canada’s multi-suite residential rental market continued to adjust through the first quarter of 2026, shaped by shifting demographic trends, evolving tenant behaviour, and a cautious economic backdrop. While demand remained solid by historical standards, it fell short of the post-pandemic highs that characterized the past several years. A combination of geopolitical uncertainty, tariff-related pressures, and the federal government’s decision to reduce immigration targets for international students and temporary workers contributed to a more moderate level of rental activity.
This easing in demand placed downward pressure on rents, particularly in the country’s highest priced submarkets. Landlords in Vancouver and Toronto — markets long defined by scarcity and premium pricing — continued to offer incentives to attract prospective tenants. These concessions, ranging from free months of rent to reduced deposits, reflect a subtle but meaningful shift in negotiating power.
At the same time, tenant turnover rates remained below long-term norms, as renters opted to stay in their existing units to preserve lower rental rates secured in previous years. “We’re seeing renters prioritize stability and affordability,” said Keith Reading, Director of Research at Morguard. “In many cases, staying put is the most cost-effective option, especially in markets where new supply commands significantly higher rents.”
Q1 2026 Notable Transactions
Source: Morguard
Investor interest
Despite rising vacancy rates and more tempered demand, overall market conditions remain relatively healthy when viewed through a long-term lens. Purpose-built rental properties continue to attract strong investor interest, supported by stable income profiles and resilient occupancy levels. The Greater Montreal Area, in particular, experienced a recent uptick in sales activity, signalling renewed confidence among buyers.
Acquisition pricing has also shown signs of stabilization. Investors are willing to pay premiums for newly constructed assets and well-located concrete high-rises, reflecting a continued appetite for quality and longterm durability. However, the supply of high-quality stabilized properties remains limited, creating a competitive bidding environment for the most desirable assets.
“Investment demand continues to outpace the availability of top-tier rental properties,” Reading noted. “Buyers are being selective, but when the right asset comes to market, competition is still strong.”
Overall, the sector is transitioning into a more balanced phase — one defined not by the frenetic pace of the post-pandemic rebound, but by measured demand, disciplined investment, and a renewed focus on quality and affordability.
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Making Canada Greener Together
Unlocking the value of energy-efficient upgrades
For many apartment owners, the decision to invest in energy efficient upgrades has traditionally been a balancing act between long-term savings and short-term capital constraints. But the landscape is shifting quickly. With rising operating costs, tenant expectations for modernized buildings, and increasing pressure to reduce emissions, energy efficiency has become a core part of responsible asset management.
Recognizing this, the Canada Mortgage and Housing Corporation (CMHC) has introduced and expanded several programs designed specifically to help multi-unit residential building (MURB) owners modernize their properties. These initiatives don’t just encourage energy efficient upgrades — they actively reward them through improved financing terms, premium refunds, and in some cases, forgivable loans.
For apartment owners, these programs can significantly reduce the cost of capital and accelerate their return on investments. Here’s what’s new, what’s changing, and how interterested building owners and managers can take advantage.
MLI Select
CMHC’s MLI Select program has quickly become the go to financing tool for multi-unit housing, and its latest enhancements put energy performance front and centre. The program uses a point-based system where buildings earn points for meeting specific criteria — energy efficiency being one of the most valuable. The more ambitious your energy efficiency targets, the better the financing terms you can unlock. These include:
• Amortizations up to 50 years
• Loan to value ratios up to 95%
• Significant reductions in mortgage insurance premiums
Energy efficiency commitments are tiered, typically starting at a 15 per cent reduction in energy use and scaling up to 40 per cent or more. The higher the reduction, the more points you earn, and the more attractive your financing becomes.
For owners planning major retrofits or new construction, MLI Select can dramatically improve project viability. Even modest improvements can unlock meaningful benefits, while deep retrofits can transform the economics of a building upgrade.
Premium refund program
Another under the radar incentive is CMHC’s energy efficiency premium refund program. This
2025 Housing Research Awards
Advancing innovation in Canadian housing
In early March, CMHC announced the recipients of the 2025 Housing Research Awards, an annual National Housing Strategy initiative recognizing leading-edge research that strengthens Canada’s housing system. The awards provide funding to projects that generate the data, tools, and insights needed to improve affordability, accelerate supply, and build climate resilient communities.
A multidisciplinary panel selected this year’s winners based on their potential to deliver actionable evidence for policy-makers and housing practitioners. CMHC President and CEO Coleen Volk emphasized the importance of research-driven innovation, noting that digital tools, standardized design, and climate resilience are central to delivering more homes, faster, while strengthening long-term system sustainability.
President’s Medal for Outstanding Housing Research ($25,000)
Recipient: Denisa Ionescu, BC Housing (Burnaby, BC) Ionescu and the BC Housing research team were recognized for Digitally Accelerated Standardized Housing (DASH), an opensource platform that integrates digital design tools, prefabricated components, and standardized processes to speed up mid-rise housing delivery. DASH offers a repeatable, scalable system that reduces costs, improves predictability for manufacturers, and supports low carbon construction — positioning it as a national model for accelerating supply.
Gold Roof Award for Housing Research Excellence ($12,500)
Recipient: Dawn Parker, University of Waterloo (Waterloo, ON), who’s team developed opensource costing and market-simulation tools to assess the feasibility and market impacts of new “missing middle” housing typologies. Their work helps municipalities and developers understand how zoning changes and new designs can expand diverse, affordable housing options.
Gold Roof Award for Knowledge to Action ($12,500)
Recipient: Kyle Mennie of the Windfall Ecology Centre (Aurora, ON) who developed Canada’s first multi-hazard residential resilience assessment, known as the Weather-Ready Home Assessment Protocol. The protocol helps homeowners evaluate and strengthen their homes against extreme weather, from flooding to high winds.
Applications for the 2026 Housing Research Awards will open later this year.
initiative rewards owners who invest in upgrades that reduce energy consumption, whether in new builds or existing buildings.
For new construction, buildings that exceed the 2015 National Building Code by at least 5 per cent qualify for a 10 per cent refund on CMHC insurance premiums. For existing buildings, the refund can reach 15 per cent, depending on the scope and impact of the
upgrades. Eligible improvements include:
• High efficiency boilers or furnaces
• LED lighting retrofits
• ENERGY STAR appliances
• Smart thermostats and controls
• High performance windows and doors These refunds apply when upgrades are completed within 12 months before refinancing with CMHC insured financing. For
“Many energy advisors now specialize in helping owners navigate CMHC’s requirements, making the process smoother and more predictable.”
owners planning a refinance anyway, this is a straightforward way to reduce costs while improving building performance.
Deep retrofits with forgivable loans
One of CMHC’s newest and most ambitious initiatives is the Affordable Housing Retrofit Program, aimed at supporting deep energy retrofits in buildings that serve low and moderate income households. This program stands out because it offers both grants and forgivable loans, making it one of the most financially attractive retrofit programs available in Canada. Key features include:
• Up to $130,000 per project for pre retrofit work such as energy audits, modelling, and engineering
• Up to $170,000 per unit for retrofit implementation
• Forgivable loans covering up to 80% of eligible retrofit costs
Targets of 70% energy use reduction and 80% GHG emission reduction
For non profits, co ops, Indigenous housing providers, and municipal housing operators, this program can make deep retrofits — once financially out of reach — entirely feasible.
If you’re considering upgrades, the smartest first step is a professional energy audit. This will help you identify the most cost effective improvements and build a roadmap that aligns financing with retrofit timing. Many energy advisors now specialize in helping owners navigate CMHC’s requirements, making the process smoother and more predictable.
For more information on CMHC tools and programs, visit: www.cmhc-schl.gc.ca.
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Benchmarking the Cost of Deep Retrofits
CAGBC sheds light on the financial realities of building decarbonization
by Erin Ruddy
A new report from the Canada Green Building Council (CAGBC) is sharpening the national conversation around the cost and climate impact of deep energy retrofits — an issue that is becoming increasingly relevant for apartment owners managing aging building stock. According to the organization, large buildings could cut their greenhouse gas (GHG) emissions by up to 40 per cent by 2030 through comprehensive retrofit projects. It’s an ambitious target, but one that aligns with Canada’s broader climate commitments and the growing pressure on the housing sector to modernize.
The report — Accelerating Deep Retrofits: A Year of Insights on Progress and Barriers — draws on data and perspectives from participants in the Purpose Retrofit Accelerator, an initiative launched in April 2024 by Purpose Building in partnership with CAGBC and funded through Natural Resources Canada. The findings
paint a picture of a sector that recognizes the need for action but is still grappling with how to scale retrofits in a predictable, financially viable way.
One key insight is the emerging benchmark for cost: the average incremental cost of deep retrofits is approximately $10 per square foot.
While this figure reflects a mix of building types, it offers one of the clearest reference points to date for owners, investors, and policy-makers — including those in the multi-unit residential sector, where cost clarity has historically been limited.
“Growing transition and physical risks combined with economic and geopolitical uncertainty are creating headwinds for the building sector that did not exist 12–18 months ago,” said Thomas Mueller, CAGBC president and CEO. “In our ongoing efforts to scale retrofits, we are providing owners and investors with new insights, data, and transition planning resources to effectively close the gap between sustainability targets and core financing needs.”
For many apartment owners, this type of structured support is particularly valuable given the sector’s unique regulatory and financial constraints. Early findings suggest that while costs vary by building type, age, and system complexity, the industry is beginning to coalesce around more consistent benchmarks. In other words, this emerging clarity could help unlock financing — especially from institutional investors who have been hesitant to commit capital without reliable cost and performance data.
“The market lacks clear data on the upfront cost of meaningful building decarbonization retrofits,” said Eric Chisholm, principal at Purpose Building. “Decarbonization can’t be — and isn’t — a blank cheque. Our inaugural dataset is starting to reveal cost trends that improve transparency and will help turn more sustainability ambitions into action.”
Implications for the apartment sector
While not called out specifically in the report, apartment buildings make up a significant share of Canada’s aging building stock — meaning, they collectively represent one of the largest untapped opportunities for emissions reductions. As cost certainty improves and financing mechanisms continue to mature, the multi-residential sector is increasingly well positioned to capitalize on the decarbonization momentum already reshaping the commercial real estate landscape.
Relevant findings for apartment owners include:
• Deep retrofits average about $10/sq. ft. across the mixed building sample. This is useful as a starting point for MURB budgeting, though actual costs may vary.
• GHG reduction potential remains high. The 40% emissions cut estimate is especially relevant to older apartment stock with significant mechanical and envelope upgrade needs.
• Financing barriers hit apartments harder. Regulated rents and limited capital recovery mechanisms make long-term retrofit investments more challenging for rental housing providers.
• Policy fragmentation adds complexity. Differing provincial rent rules and municipal climate requirements create uncertainty around cost recovery and compliance timelines.
• Data gaps persist. The market still lacks robust, apartment-specific retrofit cost and performance benchmarks — something the Accelerator is expected to improve as more projects advance.
Overcoming barriers
Despite growing momentum, the report makes clear that significant barriers remain. Many owners continue to face financing gaps, particularly when retrofit payback periods stretch beyond typical investment horizons. Policy fragmentation across provinces and municipalities adds further uncertainty, slowing decision-making and complicating long-term planning.
Meanwhile, the market is still constrained by limited data. Until recently, few large-scale datasets existed to guide owners on expected costs, timelines, or emissions outcomes. Layered on top of this, economic volatility and rising operating costs have pushed some organizations to delay or scale back retrofit planning, even when the long-term benefits are clear. CAGBC argues that overcoming these barriers will require coordinated action from governments, financial institutions, and the real estate sector, asserting that standardized incentives, clearer regulatory pathways, and more robust data sharing could accelerate adoption and help Canada meet its climate goals.
For now, the findings offer a rare window into the real-world economics of deep retrofits, and a reminder that while the path to decarbonizing Canada’s building stock is challenging, it is becoming increasingly well understood.
CANADA'S TOP ENERGY UPGRADES FOR 2026
What apartment owners are prioritizing to cut costs and boost building performance
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BY ERIN RUDDY
As Canada’s apartment sector faces higher operating costs alongside stricter carbon reduction requirements, building owners are being pushed to rethink how their properties consume and waste energy. According to leading energy efficiency experts, the most successful owners in 2026 aren’t just swapping out lightbulbs or tuning boilers — they’re embracing a new generation of upgrades that deliver deeper savings, support electrification, and create smarter, more resilient assets.
Among the most significant opportunities are deep energy retrofits. While not a new concept, these upgrades have become strategic necessities in Canada’s major markets. Designed to achieve energy reductions of 50 per cent or more, whole building retrofits are now considered one of the most effective ways to future-proof a property. Projects typically involve high-performance insulation, advanced air sealing, triple pane windows, modernized HVAC systems, and balanced ventilation improvements.
“Deep energy retrofit projects can dramatically reduce heating loads, which is especially important in Canada’s climate,” said Scott Rouse,
Managing Partner at Energy@Work. “When done well, they can improve tenant comfort, support long-term asset value, and align with municipal and federal net zero objectives. For owners planning to hold their buildings over the long term, they represent one of the strongest pathways to meaningful performance improvement.”
Existing Building Commissioning
According to Rouse, another approach gaining popularity for its simplicity and faster payback is Existing Building Commissioning (EBCx), a systematic, data-driven process used to evaluate and optimize the performance of systems in an existing building. Essentially,
EBCx involves investigating how equipment and controls actually operate, identifying inefficiencies or functional issues, and implementing operational improvements that enhance energy performance, occupant comfort, and overall system reliability. The process emphasizes understanding real-world building behaviour, fine-tuning system interactions, and ensuring that the building operates as intended throughout its lifecycle.
“From our experience, these opportunities have relatively short paybacks, especially when supported by available incentive programs,” Rouse said. “It is also helpful to evaluate saving opportunities by grouping electricity, natural gas, water, and capital measures separately so each can be assessed based on avoided cost, implementation cost, and available utility or program incentives.”
Electrification
Meanwhile, building electrification — the process of transitioning a building’s energy systems from fossil-fuel-based equipment, such as natural gas boilers, furnaces, and water heaters, to high-efficiency electric technologies — is accelerating steadily across Canada, driven by both policy and economics.
According to Brandon Young, BC Hydro’s Director of Energy Management and Innovation, heat pumps in particular are becoming the upgrade of choice for apartment owners looking to cut emissions without sacrificing performance. The Multi-Unit Residential Building Retrofit Program — offered jointly by BC Hydro and the Government of B.C. — has been supporting eligible retrofit projects across the province since September 2024. A key feature of the program is the “Opportunity Assessment,” which provides a high-level roadmap for transitioning buildings from electric baseboards or fossil fuels to high-efficiency electric systems.
“We’re seeing tremendous momentum from building owners who want to improve comfort, reduce emissions, and prepare their buildings for the future,” he said. “More than 600 submissions have come into the program since 2024, and the strong uptake of Opportunity Assessments shows that owners are actively exploring how to transition to high efficiency electric systems. It’s clear that the shift toward electrification is well underway in B.C.’s multiunit housing sector.”
BC Hydro is also seeing strong demand for heat pump upgrades specifically. Through the Condo and Apartment Rebate Program, launched in July 2025, there have already been 226 heat pump rebate applications — an indication that owners are increasingly prioritizing efficient heating and cooling solutions.
While heat pump retrofits involve higher upfront costs, incentives are helping make these projects viable. Installed costs typically range from about $6,500 for a single-head mini split to around $18,000 for multi-head systems, depending on building conditions. Electrifying heating, domestic hot water, and ventilation can nearly eliminate operational carbon emissions thanks to BC Hydro’s clean electricity (98% of the power generated comes from clean and renewable resources), while also improving comfort, indoor air quality, and resilience during extreme heat and wildfire smoke.
“We know that upfront costs and technical complexity can be barriers, that’s why we’re continuing to expand our support, including a new energy advisor service that will give building owners access to expert guidance as they move from assessment to implementation,” he said.
OTHER TRENDS RE-SHAPING THE SECTOR
In addition to investing in deep energy retrofits, EBCx, and electrification, many Canadian apartment owners are turning to the following tools and strategies to further amplify their efficiency gains.
Smart Controls & Automation
These low capex, software-driven upgrades are quick to deploy and often deliver payback within a year. For owners managing multiple properties, their scalability is a major advantage — helping tackle the hidden waste that still drains energy in many buildings. Popular upgrades include:
• Smart plugs and sockets to eliminate phantom loads
• Automated shutdown schedules for common areas
• Realtime energy monitoring platforms
• Portfolio-wide control standardization
Data Driven Energy Governance
Regulators, investors, and today’s climate conscious tenants increasingly demand verified proof of energy and carbon reductions. As a result, many Canadian apartment owners are
Building a Clear Strategy
The energy efficiency landscape is evolving fast, and shifting global economics only add to the complexity. To stay competitive, apartment owners need a clear strategy. Here are four guiding principles to help chart the path forward:
1. Think holistically, not piecemeal — Integrate upgrades into a long-term plan rather than tackling them as isolated fixes.
2. Embrace electrification early — Position your buildings for future standards and incentives by starting the transition now.
3. Use data to guide decisions — Let real-time insights drive smarter investments and operational improvements.
4. Prioritize upgrades with both immediate and long-term ROI — Focus on improvements that deliver quick wins while strengthening long-term asset value.
investing heavily in measurement, verification, and reporting tools. Beyond compliance, owners who can demonstrate real reductions are better positioned for financing, incentives, and long-term asset resilience.
Must-have tools in this area include:
• Verified energy data tied to financial reporting
• Portfolio-level dashboards for energy and carbon performance
• Standardized M&V frameworks across all properties
Demand Management for Electrified Buildings
As buildings electrify with heat pumps, EV chargers, and smart controls, managing electrical demand becomes increasingly complex. Avoiding peak time spikes is essential — helping owners sidestep costly demand charges while reducing pressure on aging electrical infrastructure.
Common strategies include:
• Load shifting software
• Smart EV charging
• Thermal storage integration
• Device-level demand control s
Shipping Container Homes
A modern answer to affordable, sustainable housing
by Erin Ruddy
As housing affordability and supply challenges continue to influence the future of residential development, shipping container homes are gaining traction as a practical, sustainable, and forward-thinking solution. Constructed from repurposed steel containers once used in global freight transport, these homes are redefining modern living through efficiency, durability, and remarkable design flexibility.
Shipping container homes represent a shift in how we think about construction,” said Martin Rasmussen, president at Cargo Texture Homes. “They reduce material waste, shorten build times, and offer a level of adaptability that traditional housing often cannot match.”
Headquartered in Winnipeg, Cargo Texture Homes specializes in modular, container-based structures that can be delivered in just months, weeks, or even days. Homes can be built from a single container or expanded by combining multiple units to create larger residences or cottages. Descibed as “extremely durable” and “ideal” for rugged landscapes and harsh climates, each unit is prefabricated to municipal building codes and finished to the same standards as traditional homes, including spray foam insulation, electrical, plumbing, HVAC, windows and doors, drywall, and exterior cladding.
“With innovation driving the evolution of residential design, shipping container homes sit at the intersection of sustainability, affordability, and modern aesthetics,” said Rasmussen. “They offer a compelling alternative for a world that demands smarter, greener, and more adaptable living solutions.”
Federal Fuel for Factory-Built Housing
Modular housing has moved from niche experiment to national priority, driven by the urgent need for faster, more affordable construction. Unlike traditional builds, modular homes are manufactured in controlled factory environments and assembled onsite, reducing construction timelines by months and significantly cutting costs.
Over the past few years, municipalities from Vancouver Island to Atlantic Canada have increasingly turned to modular construction to address homelessness, support rapid-build affordable housing, and meet population growth. The model’s flexibility, offering units that can be stacked, relocated, or expanded, has made it especially attractive for communities facing acute housing shortages.
Recognizing modular housing’s potential to scale quickly, Ottawa has earmarked billions to support factory-built housing solutions, streamline permitting, and encourage innovation in offsite construction. In 2024, the federal government announced dedicated funding to expand modular manufacturing capacity, aiming to reduce bottlenecks and enable higher-volume production.
These investments signal a shift toward treating modular housing not as a temporary fix but as a long-term pillar of Canada’s housing strategy. As factories ramp up and municipalities adopt more flexible zoning and procurement models, modular construction is poised to play a central role in delivering the homes Canada urgently needs.
Key benefits include:
Affordability — With lower material and labour costs than conventional construction, container homes offer an accessible entry point for homeowners, developers, and municipalities seeking cost-effective housing solutions.
Sustainability — By repurposing existing steel containers, these homes significantly reduce the environmental footprint associated with new construction materials. Their modular nature also supports energy-efficient design strategies.
Durability — Built from steel engineered to withstand extreme weather and heavy loads, shipping containers provide a strong, resilient structural foundation.
Speed of Construction — Prefabrication and modular assembly allow projects to be completed in a fraction of the time required for traditional builds — an advantage for both residential and commercial applications. Design Flexibility — Containers can be stacked, combined, or customized to create a wide range of layouts, from compact studios to multi level family homes.
Visit www.cargotexturehomes.com for more information. s
Breaking the bottleneck with modular manufacturing
Industry hot topics
Canada’s costliest disaster of 2025 underscores home resiliency
Insured damage from last year’s March ice storm in Ontario and Quebec is now estimated at $466 million, according to the latest figures from Catastrophe Indices and Quantification Inc. (CatIQ). Canada’s costliest disaster of 2025 was initially estimated at $342 million shortly after the event. The storm now ranks as the sixth costliest in Ontario’s history and underscores the importance of building more resilient communities.
“Insured losses from catastrophic weather and wildfires have nearly tripled over the past decade, rising from $14 billion annually to $37 billion, while claims have almost doubled,” said Maximilien Roy, vice-president of strategy, Insurance Bureau of Canada (IBC). “This reality demands a different approach to how we build and plan communities — and investing in resilience now is critical to keeping Canadians safe and insurance available and affordable.”
Canada’s insurance industry is urging governments of all orders to invest in flood-defence infrastructure, strengthen land-use planning to keep development out of flood-prone areas, expand FireSmart initiatives in communities at high wildfire risk, and implement long-overdue updates to building codes to better protect homes, businesses and livelihoods. Last year, following the worst year for catastrophic weather events in Canada’s history, IBC released a new three-point resilience plan that sets out clear priorities for governments to better protect communities across the country.
The plan calls for governments to “build smarter” by keeping new homes out of high-risk areas and updating building codes for severe weather. It also calls for strengthening hazard mapping and building public infrastructure to
withstand extreme weather, and for supporting risk-based pricing through public-private partnerships and avoid harmful market interventions.
“Canada has the opportunity to be a world leader in resilience, but seizing that opportunity will require concerted action,” added Roy. “Insurers and policy-makers at all orders of government must work together now to protect Canadians from the growing risks they face in an increasingly volatile world.”
ENERGY STAR High-Rise Pilot Program gaining momentum
Natural Resources Canada’s ENERGY STAR Multifamily High-Rise (New Construction) Pilot Program is a five-year initiative designed to accelerate the construction of high-performance residential towers in Ontario. The program was created to test the effectiveness of ENERGY STAR certification in the high-rise market and to lay the groundwork for potential expansion across Canada.
At its core, the pilot program recognizes new mid and high-rise buildings that are at least 15 per cent more energy efficient than those built to the provincial building code. To achieve this, participating developers must meet a
series of rigorous requirements, including high-performance windows, improved air sealing, properly sized HVAC systems, and verified energy modelling. Buildings must also undergo professional testing and commissioning to ensure they perform as designed.
A key feature of the program is its emphasis on verified performance. Certification is delivered through EnerQuality, the licensed service organization responsible for reviewing submissions, overseeing quality assurance, and confirming that each building meets ENERGY STAR standards. Once certified, buildings are registered in ENERGY STAR Portfolio Manager, enabling ongoing monitoring of energy performance.
Although still in its pilot phase, the program has already produced notable results. In 2023, a 242-unit seniors’ residence, Delmanor Aurora, became the first building in Canada to earn certification for demonstrating the program’s potential to support private sector investment in high-performance buildings while improving comfort and reducing emissions. Since then, several other buildings have followed, including Brookfield Properties’ Station No. 3 in Whitby, Ontario.
Interest in the program continues to grow among developers seeking lower operating costs, stronger ESG performance, and market differentiation. For residents, ENERGY STAR buildings offer tangible benefits: fewer drafts, better indoor air quality, more consistent temperatures, and lower utility bills.
Quebec pledges heat pump and check valve funds
The Quebec government has earmarked nearly $584 million to promote heat pumps and flood protection measures, but little of it is likely to roll out before the provincial election that’s slated for no later than Oct. 5 this
year. The newly released 2026-27 Quebec budget announces the funding, with more details promised in the pending 2026-31 climate change action plan, which will outline approximately $8.2 billion in total expenditures to be funded from Québec’s carbon market revenues.
Nearly $159 million over four years is promised to subsidize heat pump installations in multifamily rental buildings. That’s to be channelled through Hydro-Quebec’s LogisVert program, which currently provides incentives for energy-efficiency improvements primarily in the low-rise residential sector. Only about 15 per cent of the envisioned “enhancement” to the LogisVert pot is scheduled to become available in the next 12 months.
The budget also pledges $425 million over five years to launch a new climate change adaptation stream of the Rénoclimat program, which currently offers energy-use evaluations and subsidies on various upgrade measures for the residential sector. As part of that, owners of multifamily buildings can qualify for rebates on insulation, air-sealing, window and/or door replacement, heat recovery ventilation systems and drain heat recovery systems.
The budget document advises the new Rénoclimat adaptation program “will provide citizens with financial support for work to protect foundations or install a check valve as protection against stormwater flooding in areas at risk.” More than 80 per cent of pledged funds will not be available until after March 2028, with just $25 million expected to be delved out in 2026-27.
Rental units shrink as space becomes more costly
Anew analysis from Rentals.ca and Urbanation reveals that although rents across Canada have begun to stabilize, renters are effectively paying more as the average size of rental units continues to decline. Using data from the Rentals.ca National Rent Report, the analysis shows that rental apartments and condominiums have become smaller in recent years, even as rent per square foot remains high in Canada’s largest cities.
“While headline rents have moderated, many renters are still feeling the impact of affordability pressures,” said Shaun Hildebrand, President of Urbanation. “Smaller unit sizes mean renters may be getting less space for their money, particularly in Canada’s largest cities.”
Since 2024, the average size of rental units has decreased from 754 square feet to 719 square feet — a reduction of roughly 35 square feet (4.6%).
Vancouver remains the most expensive market on a per square foot basis, with renters paying
an average of $4.11 per square foot — more than double the rate in cities like Edmonton. Toronto follows at $3.52 per square foot, while Ottawa also exceeds $3 per square foot, placing it among the pricier markets relative to unit size.
By contrast, Calgary and Edmonton offer larger units at lower per-square-foot rents, with Edmonton averaging $1.99 per square foot, the lowest among the cities studied.
The analysis suggests that the decline in average unit size is partly driven by shifts in the composition of new rental supply. While the size of individual unit types has remained relatively stable, a growing share of studio and one-bedroom units in newer developments is pulling down overall averages.
Much of the recent housing supply in major Canadian cities has come from condominium developments, where smaller units make up a significant portion of new inventory. At the same time, strong demand for centrally located
housing continues to support more compact living arrangements.
Although rent per-square-foot has eased slightly in line with broader rent trends, it remains elevated in high demand urban markets, underscoring the ongoing affordability challenges facing renters.
New rental towers underway for Vancouver’s healthcare workforce
PC Urban Properties Corp. and Harrison Street Asset Management have announced a landmark partnership to deliver a two-tower rental development at West 13th Avenue and Willow Street, directly across from Vancouver General Hospital (VGH). Designed specifically
for healthcare workers, the project represents the first purpose-built rental housing of its kind in Vancouver — and one of the first in Canada — addressing a long-standing gap in workforce housing for medical professionals.
The development will add 507 high-quality, fully-furnished, and below-market rental homes tailored to the needs of hospital employees, including nurses, technicians, support staff, and early career clinicians. Vancouver Coastal Health has repeatedly identified housing affordability as a major barrier to recruitment and retention, with many employees commuting long distances due to high rental costs near major hospitals. This project aims to ease that pressure by offering stable, predictable housing within walking distance of one of the country’s largest medical campuses.
Construction is scheduled to begin this fall, with completion anticipated in mid-2029. Both towers will rise 22 storeys and will be complemented by an 11,000 square foot, two-storey childcare centre offering extended hours — an essential service for shift-based healthcare workers. Additional wellness-focused amenities and rooftop spaces will support residents’ physical and mental well-being.
“What makes this project particularly
BGO to bolster U.S. multifamily holdings
BentallGreenOak (BGO) will pump up its multifamily holdings in the United States with its parent company’s acquisition of Bell Partners and a portfolio of approximately 70,000 apartment units. The newly announced deal between Sun Life Financial and the U.S.-based private multifamily operator is expected to close in the second half of 2026, after which, Bell Partners will be integrated into BGO’s platform as a distinct business line retaining its existing leadership.
“This partnership reflects our strong conviction in the U.S. multifamily market and underscores our commitment to building deep expertise in sectors where we believe there is significant long-term opportunity,” said Amy Price, co-president of BGO.
Bell Partners marks its 50th anniversary this year, following USD $1.3 billion (CAD $1.8 billion) worth of acquisitions in 2025 to add
meaningful is that there wasn’t an existing policy framework for this kind of housing,” said Brent Sawchyn, CEO of PC Urban. “City planning staff worked tirelessly to bring this project to reality, and council were open-minded and collaborative in helping create a path forward; something that could serve as a precedent for future workforce housing in Vancouver.”
The redesigned residential buildings will offer a mix of unit-sizes, Wi Fi, and access to shared amenities. Planned features include indoor and outdoor rooftop gathering areas, fitness spaces, guest suites, children’s play zones, and a large main floor gym. An activated laneway will incorporate a small outdoor terrace and a dog run area, contributing to a more vibrant public realm.
Sustainability is a core priority, with the project targeting LEED Gold certification. EV charging stations, car share spaces, and extensive bicycle facilities — including secure lockers, bike rooms, and repair and wash stations — will support low carbon transportation options.
As Vancouver continues to grapple with housing shortages and healthcare staffing pressures, this project is being closely watched as a potential model for future workforce-oriented developments across Canada.
more than 4,700 units across 10 regions of the U.S.. The pending deal will add roughly USD $10 billion (CAD $14 billion) in assets to BGO’s portfolio, bolstering it to about USD $100 billion (CAD $140 billion) in assets under management.
“This opportunity will extend Bell’s operating
and investment expertise across a larger residential platform and strengthen our depth and reach,” observed Lili Dunn, chief executive officer and president of Bell Partners. “It is a natural step in our evolution, preserving the essence of what has made us successful, while also opening new opportunities for the future.”
Surrey unveils eCheck tool for residential approvals
The City of Surrey has launched an innovative digital compliance tool designed to streamline the residential plan review process. eCheck provides rapid, automated reviews of building plans to help home designers identify potential zoning compliance issues before submitting a formal building permit application. This tool is now available for all residential designers.
“The launch of eCheck marks a major step in modernizing how we support home designers and applicants,” said Ron Gill, general manager of planning & development. “By leveraging technology, we’re improving efficiency, reducing delays, and making it easier for applicants to navigate the permitting process.”
The city is rolling out eCheck in phases beginning with single family homes, coach houses, garden suites, duplexes and houseplexes for R3 zones, with expansion to additional zones in the coming months. This approach ensures designers and homeowners can quickly benefit from faster, more accurate permit reviews.
“We’re thrilled to partner with the City of Surrey to support their development objectives using Archistar,” said Joe Philbrook, vice president of customer at Archistar. “By automating newly defined houseplex design compliance reviews, we’re helping the City accelerate housing delivery for Surrey residents.”
Toronto unveils major deal to cut development charges
The City of Toronto, the Government of Canada, and the Province of Ontario announced a landmark multibillion dollar agreement that will significantly reduce development charges on new housing while advancing one of the city’s most important transit projects: the Waterfront East Transit line. Under the new agreement, the federal and provincial governments will fund a reduction in development charges by up to 50 per cent, directly supporting the infrastructure required to build more homes across the city. Toronto will work with the province to identify growth-enabling projects that can be jointly funded, allowing development charges to be lowered without compromising on critical infrastructure delivery.
This new deal builds on a series of “bold steps” Toronto has already taken to lower costs and accelerate housing construction. To date, it has invested more than $760 million to reduce development charges and incentivize new housing, including:
• Eliminating development charges for 6,128 purpose-built rental units
• Providing a 15% property tax reduction for new multi-residential buildings
• Freezing development charge rates at 2024 levels
• Deferring development charge payments for condo units (preBill 17)
• Ending the conditional permit policy, allowing developments to secure the DC rate frozen at the time of planning application
• Exempting developments with up to six units — plus a garden or laneway suite — from development charges and other fees
The March announcement also confirmed major federal and provincial funding for the Waterfront East Transit project, complementing the City’s own $1 billion investment. The new transit line will connect the eastern
waterfront to the Port Lands, unlocking a significant future residential district. “I’m pleased to join with the federal and provincial governments in this partnership to build more housing, transit and support good jobs,” said Mayor Olivia Chow, at the live press conference. “The City of Toronto has taken bold steps to cut development charges on new homes, speeding up our development timeline and investing in affordable housing. Further, we have invested in the design of the Waterfront East Transit. Today’s historic announcement takes our work further and will deliver thousands more affordable homes and better transit, benefiting our City for generations.”
More Than a Rooftop Aesthetic
As mandates fade, the case for green roofs grows even stronger
Living rooftops — once dismissed as an architectural novelty — have become a proven tool for cooling cities, reducing emissions, and managing stormwater. Yet in 2025, the Government of Ontario repealed Toronto’s Green Roof Bylaw, raising concerns among sustainability experts who warn the city could lose hard-won environmental gains.
Few people understand those stakes better than Steven Peck, who has spent more than two decades advancing green roof policy and research across North America. Peck has long argued that green roofs are “critical urban infrastructure,” not decorative add ons, because they deliver measurable environmental and economic value.
“Green roofs help manage stormwater, reduce building energy use, improve air quality, and create much needed green space in dense cities,” Peck said, adding that healthy vegetation is central to these benefits — improving water quality, reducing runoff, and providing cooling
Top 4 Environmental Benefits of Green Roofs
1. Urban heat island reduction — Green roofs lower roof surface temperatures and help cool cities.
2. Stormwater management — Vegetated roofs retain rainfall, reducing runoff and easing pressure on drainage systems.
3. Air quality improvement — Plants filter pollutants and contribute to CO2 reduction.
4. Biodiversity support — They create habitats for pollinators and urban wildlife.
effects that counteract the urban heat island.
He also warned that without mandatory standards, adoption often slows — even when the business case is strong. Toronto’s bylaw, introduced in 2009, helped transform the city into a global leader, with more than 1,000 green roofs installed over 15 years and supporting the creation of more than 1,600 jobs.
“Policy drives market transformation,” he asserted. “When requirements disappear, progress can stall.”
Cooling, absorption, and biodiversity
Multiple studies have shown that conventional black roofs can reach 70–80°C on a hot summer day, while green roofs under the same conditions often stay around 30–40°C. This temperature difference reduces cooling demand and lowers emissions.
Green roofs also act as natural stormwater management systems, absorbing rainfall that would otherwise overwhelm aging sewer networks. In cities like Toronto, where heavy downpours are becoming more frequent, this function is critical. A well designed green roof can retain up to 70% of annual precipitation, easing pressure on municipal infrastructure and reducing flood risk.
Another overlooked benefit, according to Peck, is that green roofs support biodiversity by creating habitat for pollinators, birds, and insects that struggle to survive in concrete dominated environments. For multi unit housing developers, these ecological gains translate into human benefits. When designed as accessible spaces, green roofs become places where residents can reconnect with nature, support their mental well being, and enjoy outdoor areas that traditional rooftops simply can’t offer.
Longer life, lower costs
In terms of the financial investment, while installation costs can be higher than those of
conventional roofs, green roofs last significantly longer because vegetation protects the underlying membrane from UV radiation and extreme temperature swings. Lower energy bills, reduced maintenance, and extended roof lifespan all contribute to long term savings.
“A green roof is one of the few building investments that pays back environmentally, socially, and financially,” Peck said.
And new research is reinforcing these claims. A major Canadian study, Nature Cities, published in 2025, used very high resolution airborne remote sensing to analyze more than 1,300 green roofs across Toronto. The study demonstrated that cities can now monitor green roof performance at scale, tracking plant health, identifying maintenance needs, and revealing which design factors — such as roof size, height, and vegetation type — most influence long term success.
This kind of data gives municipalities a powerful new framework for evaluating and optimizing green roofs with far greater accuracy than traditional on site inspections.
A call to stay the course
Despite mounting evidence in favour of these systems, the repeal of Toronto’s Green Roof Bylaw — once the first mandatory green roof requirement in North America — marks a step back at a time when climate pressures are intensifying.
Peck and other sustainability leaders argue that this moment should sharpen, not dull, the city’s focus. As Canada works to modernize its building stock and strengthen climate resilience, living systems remain one of the smartest investments available — whether or not they’re required by law.
Steven Peck is Founder & President at Green Roofs for Healthy Cities (GRHC). Learn more at: www.greenroofs.org
FROM DRAFTY TO EFFICIENT
Prefab panels deliver instant impact without the disruption
Much of Canada’s mid-century concrete rental housing remains structurally sound but is now severely energy inefficient. As municipalities introduce stricter building-performance standards and owners face growing pressure to reduce emissions, prefabricated exterior deep retrofit panels are emerging as an effective and scalable solution.
PrimeFab: Prefabricated Systems for Faster, Cleaner Retrofits
PrimeFab is another reputed Canadian manufacturer of prefabricated wall systems that arrive on site, fully assembled, with insulation, air barrier systems, and even windows integrated into the panel. This approach allows building exteriors to be upgraded in a fraction of the time required for traditional envelope reconstruction. For apartment owners, the benefits are immediate and measurable, offering systems that significantly improve thermal performance, reduce heating energy use, and lower operating expenses year after year. They also eliminate drafts, stabilize indoor temperatures, and refresh the building’s appearance — boosting tenant satisfaction and supporting higher retention.
Just as importantly, installation is fast and minimally invasive. Instead of months of scaffolding, noise, and tenant complaints, panels are installed quickly and often without requiring residents to vacate their units. This protects rental income and avoids the reputational risks associated with disruptive retrofit projects.
For more information, visit: PrimeFab.ca
UnitiWall: Canadian Innovation in High-performance Retrofit PanelsI
Ontario-based UnitiWall specializes in advanced, energy-efficient exterior wall systems for both new construction and retrofits, offering prefabricated panels engineered to dramatically improve thermal performance, accelerate installation timelines, and modernize aging buildings. Manufactured offsite in controlled conditions, these panels benefit from superior quality assurance compared to traditional onsite construction and can be installed rapidly with minimal disruption to residents. Whereas conventional deep retrofit projects often require extensive scaffolding, demolition, and prolonged exposure of the building envelope — activities that can displace tenants or create months of noise and dust — prefabricated panels are craned into place and secured within hours. This approach allows entire façades to be upgraded in weeks rather than months, resulting in fewer vacancy losses, reduced tenant turnover, and a far smoother path for rental housing providers working to meet increasingly stringent energy-performance targets. For
Stock Up. Fix Up. Stay Ready.
H&S Building Supplies Ltd is a specialized distributor serving Ontario’s multi-unit residential rental sector. We provide a full range of MRO (Maintenance, Repair, and Operations) and renovation products, including electrical, plumbing, HVAC, hardware, janitorial, and general building materials. Supporting property managers and contractors with reliable supply and efficient solutions.
Serving commercial, multi-unit rental properties — year-round.
8,500+