SOLUTIONS

Capital Repair Financing For Major Condo Building Projects

Roofs, building envelopes, elevators, parking structures, HVAC systems: major capital repairs are inevitable. Condominium Lending Group finances the full cost so the work gets done without a large special assessment or a drain on the reserve fund.

$500M+

Financing Arranged

100+

Condo Corporations Served

13

Provinces & Territories Served

24 Hour

Initial Response Time

THE CHALLENGE

Major repairs cannot wait, but the money is rarely all there

Every condo building faces major capital repairs. Roofs reach the end of their useful life. Building envelopes develop water infiltration. Parking structures require waterproofing. Elevators need modernization. HVAC systems that have run for 25 years cannot run for 25 more. These projects are not optional. Deferring them increases the eventual cost and creates liability for the board.

The cost of these projects has risen faster than most reserve funds have grown. A building envelope repair or elevator modernization that was budgeted at $800,000 five years ago may now cost $1,200,000 or more. Reserve fund studies do not always reflect current contractor pricing, particularly after periods of high construction inflation.

When the repair is needed and the funds are not there, boards generally choose between a large special assessment, a deferred project with the risk that entails, or a financing arrangement that lets the work proceed on schedule.

THE SOLUTION

Finance the full cost and repay over time through monthly contributions

Condominium Lending Group structures capital repair financing around the specific project your building needs. Whether it is a full building envelope replacement, a roof, an elevator, a parking structure, or multiple systems at once. We evaluate the project scope and structure a loan that fits your corporation’s repayment capacity.

Financing can cover the complete project cost including contractor fees, engineering reports, project management, and associated professional fees. During construction, funds are advanced as work is completed and certified. Once the project is done, the loan converts to a fixed term repaid through monthly contributions.

A $1,000,000 building envelope project on a 100-unit building financed over 15 years costs approximately $65 to $85 per unit per month. The same project funded by special assessment would require $10,000 per unit immediately.

THE PROCESS

How Capital Repair Financing Works

Most corporations receive an initial response within one business day. Here is what the process looks like from first contact to funded.

01

Contact Us

Reach out with a brief description of your building, the financing need, and your timeline. You do not need final pricing or a confirmed project scope to start the conversation.

02

We Assess Your Situation

We review your reserve fund study, financial statements, and project details. Most corporations receive an initial response and preliminary financing overview within one business day.

03

Your Board Presents The Option

Once approved, funds are deployed directly to your corporation. Your building gets the work done with no special levies and no financial disruption to owners.

04

Condo Gets Funds Advanced

Once the bylaw is approved, funds are advanced directly to the corporation. Repayment begins through monthly common expense contributions.

WHO WE WORK WITH

Condo Corporations And Strata Councils Across Canada

The different types of corporations that Condo Lending works with across Canada.

Buildings with aging systems

Condo corporations where building envelope, mechanical, electrical, or structural systems are approaching or past their expected useful life and require replacement or major repair.

Corporations with multiple concurrent projects

Buildings, often those constructed in the 1970s and 1980s, where several major systems need replacement within a short window, requiring a comprehensive financing strategy rather than reactive borrowing.

Boards managing construction complexity

Urban buildings facing access challenges, mobilization costs, road closures, or other project complexities that increase the total cost beyond what was anticipated in the reserve fund study.

COMMON QUESTIONS

Capital Repair Financing — Questions Boards Ask

FAQ

What types of capital repairs can be financed?

Condominium Lending Group can finance a wide range of capital repair and replacement projects: roof replacement and repair, building envelope repairs including waterproofing and cladding, window and exterior door replacements, elevator modernization and replacement, parking structure repairs, HVAC system replacements, plumbing and electrical upgrades, balcony and terrace repairs, and lobby and common area renovations. If the project relates to a common element of the corporation, contact our team to discuss financing options.

Do we need to have contractors chosen before applying for financing?

No. You can begin the financing conversation before selecting contractors. In fact, knowing your financing capacity before evaluating contractor bids helps boards make better decisions about project scope and timing. We recommend reaching out early in the planning process so your board has a clear picture of what is available before committing to a specific project timeline.

Can financing cover engineering and professional fees in addition to construction costs?

Yes. Financing can typically cover the full project cost including contractor fees, engineering reports, condition assessments, project management costs, and other associated professional fees. The total amount is determined based on your corporation’s repayment capacity and the full scope of the project.

What is building envelope financing?

Building envelope financing covers the cost of repairing or replacing the exterior shell of a condominium building, including the roof, exterior walls, cladding, windows, doors, balconies, and all waterproofing systems. Building envelope repairs are among the most significant capital expenses a condo corporation faces. Deteriorating building envelopes cause water damage, mould, structural issues, and energy inefficiency, problems that worsen and become more expensive if repairs are deferred.

How are funds advanced during a construction project?

During construction, loan funds are advanced periodically, typically monthly, based on work that has been completed and certified. For larger or more complex projects, an engineer or qualified person certifies that work has been completed satisfactorily before each advance. Once the project is complete, the loan converts to a fixed term repaid through monthly common expense contributions.

GET STARTED

Talk to a specialist about your capital repair project

Contact us early in the planning process. Understanding your financing capacity before you finalize project scope and contractor selection puts your board in a much stronger position.