MBL Developments › Education › Toronto Sixplex Development & CMHC Financing — Course & Deal Lab

Toronto-specific · new construction · one comprehensive program

Toronto Sixplex Development & CMHC Financing

The new-development (Build) track of MBL's one underwriting, financing & development program

What it is. A guided course and software workflow for evaluating an as-of-right Toronto sixplex opportunity from lot acquisition through preliminary design, development underwriting, CMHC MLI Select strategy and lender-file preparation. The Deal Lab maintains one project record across the course: calculations are deterministic, evidence attaches to the relevant assumptions, and unresolved items stay visible.

Who it is for. Owners and buyers evaluating a new five-or-more-unit rental development in Toronto's as-of-right multiplex wards — including first-time developers building their first project file.

How it fits. New development and existing acquisition are two execution tracks of one comprehensive MBL program; this page describes the Build track. Buying existing buildings is the Acquire track. It does not promise approval, financing, construction feasibility or project success. It produces an organized, internally consistent file and teaches what must still be confirmed by qualified professionals.

See the Deal Lab (sample deal)  Program details & release notice

Curriculum — 13 units

Unit	What it covers
0 · Start with the decision, not the dream	What a lender-ready file is; the single project record and evidence hierarchy.
1 · Build the development buy box	Program definition, capital and capacity constraints, price and fatal-flaw rules.
2 · Screen the property before spending heavily	Frontage and buildable plate, trees, easements, servicing, heritage; the screening evidence file.
3 · Underwrite rents from closed evidence	Comp ledger construction, unit-level rents, affordable units, downside rent.
4 · Test the concept program	Floor allocation, unit mix, efficiency, energy and accessibility intent — a brief for an architect.
5 · Build the complete cost stack	Hard, soft, municipal, financing, tax, carry and contingency; the omitted-scope audit.
6 · Solve the pro forma and maximum bid	NOI, value, loan under every constraint, and the disciplined offer ceiling.
7 · Design and document the MLI Select pathway	Affordability, energy (exact NBC/NECB baseline and edition) and accessibility points; dated application evidence.
8 · Map the cash requirement and monthly draw schedule	Monthly sources and uses, eligible costs, holdbacks, peak cash and liquidity protection.
9 · Complete and control due diligence	Workstreams, owners, decisions, deadlines and dependency control.
10 · Assemble the lender file	One consistent package with a cross-document consistency and evidence audit.
11 · Red-team the project	Operating, valuation, delivery and financing stresses; proceed, revise or pass.
12 · Take the file to professional and lender review	Review sequence, the lender meeting, question log and version control.

The capstone standard

The final package is never labelled "approved" or "financeable." It receives one of four statuses: incomplete, revise, pass (the student documents why the property should not proceed), or ready for professional review — calculations reconcile, evidence is attached, open items are disclosed, and no fatal internal flag remains.

Primary sources

MLI Select lessons and the points calculator are maintained against CMHC's current MLI Select criteria with dated verification, reviewed at least quarterly and on every program change. Toronto zoning references are maintained against the City's multiplex framework. MBL Developments is an independent company; this course is not affiliated with, reviewed by, or endorsed by CMHC.

Existing acquisition and new development are two tracks of one comprehensive program; tuition may be applied toward an accepted Toronto Multiplex Project Review within twelve months.