Commercial Financing in Halifax, Nova Scotia

What we finance in Halifax

Halifax is the region's deepest commercial market, and the deals reflect it:

• Purpose-built and multi-unit rental (apartment buildings, 5+ units)
• Mixed-use along the North End, Quinpool, and Spring Garden corridors
• Downtown and suburban office and retail
• Land and development sites for new rental supply

The Halifax rental market, in numbers

Halifax remains a landlord's market even as supply catches up. The CMHC 2025 Rental Market Report put the Halifax CMA purpose-built apartment vacancy rate at 2.7% (up from 2.1% the year before), but vacancy for the most affordable units — those renting at $1,349 or less — sat at just 0.7%. Same-sample two-bedroom rents still grew 6.7% in 2025. Halifax was among the Canadian centres adding the most new rental supply, thanks to record purpose-built completions. For owners and developers, that combination — tight affordable vacancy, steady rent growth, and a wave of new construction — is exactly the environment CMHC MLI Select was built for.

How financing tends to structure here

In a high-cost, supply-short market, CMHC MLI Select has become the default structure for new purpose-built rental in Halifax — its higher leverage and long amortization frequently turn a deal that fails on conventional terms into one that pencils. For stabilized assets, existing owners weigh conventional financing against an insured refinance. We map both before you commit.

Who finances apartment buildings in Halifax?

Apartment buildings (5+ units) in Halifax are typically financed through conventional commercial lenders or, more often for new and repositioned rental, CMHC-insured programs like MLI Select. As a commercial mortgage brokerage, we shop the whole market — banks, credit unions, CMHC-approved lenders, and private capital — and structure the deal to clear DSCR and loan-to-value.

What is the rental vacancy rate in Halifax?

Per the CMHC 2025 Rental Market Report, the Halifax CMA purpose-built apartment vacancy rate was 2.7% in 2025 (up from 2.1%), but vacancy for the most affordable units was only 0.7%. Same-sample two-bedroom rents grew 6.7% over the year.

Do you finance mixed-use buildings in Halifax?

Yes. Mixed-use buildings — ground-floor retail with residential above, common along the North End, Quinpool, and Spring Garden corridors — are financeable commercially, and can even qualify for CMHC MLI Select where non-residential space stays within program limits (generally up to 30% of floor area and lending value).