Hi-RIS Toronto 2026: How apartment building owners can finance envelope retrofits with no upfront cost

Hi-RIS Toronto envelope retrofit on a high-rise apartment building
Aging apartment buildings across the city face a hard truth. Rising energy bills, freeze-thaw damage, and tenant complaints keep piling up, yet the cost of fixing the building envelope stops many owners before they start. The good news is that a City of Toronto financing tool now removes that barrier, letting owners upgrade without paying anything upfront.

What is Hi-RIS and how does it work?

Hi-RIS (High-Rise Retrofit Improvement Support) is a City of Toronto program that lets owners of apartment buildings three storeys or taller finance energy and envelope retrofits with no money down. The loan is repaid as a special charge added to your property tax bill over a 5-, 10-, 15-, or 20-year term. As of November 2025, equity housing co-ops can also apply.

Because the loan attaches to the property and not the owner, the repayment obligation transfers to the new owner if the building is sold, along with the energy savings the upgrades deliver.

Which buildings qualify?

Eligibility is straightforward. Your property generally must be:

  • A multi-unit residential building in Toronto

  • Three or more storeys

  • Supported by an energy assessment (ASHRAE Level 2 or above)

Owners can typically access up to 10% of the property's Current Value Assessment, or $2.5 million per building, whichever is less. Applicants confirm current terms directly with the City before applying, since rates and intake windows change.

How the financing actually helps

The structure is designed to pay for itself over time. Key features include:

  • Financing that covers eligible envelope and energy upgrades

  • Zero percent interest during the construction period

  • Fixed repayment terms you choose (five to twenty years)

  • Repayment through the familiar property tax bill

For many owners this means annual energy and water savings help offset the loan payments, turning a large capital project into a manageable line item.

Why envelope work is the smart place to start

Toronto's climate is unusually hard on buildings. Roughly 30 to 40 freeze-thaw cycles a year drive water into cracks and joints, then expand it, steadily damaging masonry, concrete, and sealants. Targeting the building envelope first delivers the fastest returns:

  • Lower heating and cooling loads through Air Sealing and improved thermal performance

  • Reduced water infiltration that protects the structure

  • Fewer emergency repairs and tenant complaints

  • Better indoor air quality and tenant comfort

This is where proper documentation matters. A qualifying application depends on a defensible energy assessment and a scope of work that clearly reduces consumption. Experienced building retrofit services help owners prepare that paperwork correctly and carry out the physical upgrades that pass verification, from envelope waterproofing upgrades to air sealing and caulking.

What owners often ask

Does the City of Toronto pay for building retrofits?
 The City does not pay outright, but it finances up to the eligible amount and lets you repay over time through your tax bill.

How is a Hi-RIS loan repaid?
 Through a special charge on your property tax bill across your chosen term, with zero interest during construction.

Does the loan transfer if I sell?
 Yes. The obligation stays with the property, so the next owner assumes both the balance and the savings.

Getting started the right way

Before applying, a practical sequence works best:

  1. Commission an ASHRAE Level 2 energy audit

  2. Identify the highest-impact envelope measures

  3. Confirm current Hi-RIS terms with the City

  4. Prepare your application and scope of work

  5. Complete the qualifying high-rise building work

For older towers, pairing Hi-RIS with a planned reserve-fund cycle lets boards and managers modernize without a special assessment.

Getting the assessment and scope right is what separates an approved application from a rejected one. NHC Building Restoration brings 20 years of Toronto experience, works alongside engineers, and is a Toronto Construction Association member, helping owners navigate apartment retrofit financing while executing envelope work that qualifies. To explore whether your building fits the program, book a free consultation and start with a straightforward assessment.
Location: Toronto, ON, Canada

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