Are you ready and understant the potential impact of MURBs for apartment development?

PreparingIf you’re a developer, investor, or lender in the apartment space, you’ve likely heard growing discussion about the possible return of the MURB program — Multi-Unit Residential Buildings, one of Canada’s most successful rental housing incentives.

Back in the 1970s and 1980s, MURBs helped deliver nearly 200,000 new rental units nationwide, unleashing private capital to solve a national housing crisis.  Today, with many housing task forces and government reports calling forthe return of the MURB, it’s time to get ready. Nobody appears to be against the idea!

What You Need to Know Now

The reintroduction of MURBs isn’t a question of if — it’s a question of when.
Multiple housing reports have already laid the groundwork:

  • The Task Force for Housing & Climate (2024) recommends enhanced Capital Cost Allowance (CCA) and capital gains deferral to mobilize private investment in new purpose-built rentals.

  • The National Housing Accord (2023) calls for higher CCA rates and streamlined financing for rental housing — both directly aligned with a MURB-style incentive.

  • The City of Toronto’s 2024 analysis credits MURBs with delivering ~195,000 rentals nationwide — including 20,000 in Toronto alone.

If the federal government reintroduces MURBs as part of its Build Canada Homes initiative, developers who understand the mechanics early will be first to benefit.

Why Rock Advisors Is Preparing and Watching Closely

We are already preparing for MURB 2.0 and shoring-up our resources. We’ve modelled the original program, created the proforma inputs, analyzed the financial performance, accounted for CMHC programs, and understand exactly how similar incentives can be structured into your future development pro forma.
When MURBs return, you’ll need to know how to integrate them into your development strategy – it’s a huge deal for you!

Request to connect to discuss more!

I WANT TO LEARN MORE!