Two City of Toronto programs for apartment buildings at least 20 years old, 3 or more storeys and 7 or more units. Hi-RIS lends up to 10% of the property's assessed value or $2.5 million, interest-free during construction and repaid through the property tax bill. Taking Action on Tower Renewal lends up to 25% of assessed value or $5 million, with a 10% grant, for buildings in priority neighbourhoods or with rents at or below average market rent.
Long-term retrofit money for older Toronto rental, social housing and co-op buildings, tied to the property rather than the owner.
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The two programs side by side
Hi-RIS
Taking Action on Tower Renewal
Buildings
Toronto apartments at least 20 years old, 3+ storeys, 7+ units: private rental, social housing, co-ops
Same, plus a priority or low-income neighbourhood, or rents at or below average market rent
Amount
Up to 10% of assessed value or $2.5 million
Up to 25% of assessed value or $5 million
Grant
None
10%, applied automatically
Rate and term
0% during construction, then 5, 10, 15 or 20 years
Repayment
A special charge on the property tax bill, which stays with the property
Required work
Energy, water and resilience upgrades (up to 30% of funds for resilience)
At least 10% less energy and emissions, including windows, roof insulation, overcladding or heat pumps
Report needed
ASHRAE (the widely accepted industry standard) Level 2 or higher energy audit, or a decarbonization study; non-profits may use a Building Condition Assessment
Both programs are accepting Expressions of Interest. Funded work cannot be used for above-guideline rent increases. Checked November 2026.
Start free: the STEP program
Toronto's STEP program benchmarks eligible apartment buildings against about 500 similar buildings at no cost and produces an action report. It is a good first look; the loan application then needs the full Level 2 audit, which we prepare.
Toronto multi-unit residential buildings at least 20 years old, with 3 or more storeys and 7 or more units, including private rental, social housing and co-operatives.
How much can Hi-RIS lend?
Up to 10% of the property's current value assessment or $2.5 million, at 0% interest during construction, then over 5, 10, 15 or 20 years, repaid as a special charge on the property tax bill. Up to 30% of the funds can go to resilience measures.
What does Taking Action on Tower Renewal add?
Up to 25% of current value assessment or $5 million, with a 10% grant. Buildings must be in a Neighbourhood Improvement Area, Emerging Neighbourhood or low-income area, or have rents at or below average market rent, and the project must cut energy use and emissions by at least 10% and include windows, roof insulation, overcladding or heat pumps.
What report does the City require?
An ASHRAE Level 2 or higher energy audit, or a decarbonization study. Non-profits may use a Building Condition Assessment. Owners cannot apply for above-guideline rent increases for the funded work.
