MCAP Blog

MCAP is a long-standing lending partner of Phoenix Homes, one of British Columbia’s active home builders in the Fraser Valley. Established in 1999, Phoenix Homes has built a reputation for quality construction and design. Over the last 25 years, they have completed 23 projects for over 700 units across B.C. and are committed to continue developing communities in growing and vibrant neighbourhoods across the province. In recent years, they have been building a mix of townhomes, condos, and rental projects. MCAP has financed three projects for Phoenix Homes, dating back to 2011.

A construction loan is an ideal financing solution if you’re building a home or other real estate project, as it helps you cover the costs (after equity) of building from start to finish – including the cost of the land, labour, building materials and permits. Because it’s a short-term loan, and considered a higher risk compared to a traditional mortgage, your lender will need to know your plan for repaying it. In fact, before you’re approved for funding, you’ll need to have a viable exit strategy in place.

A major aspect of any development project is selecting the right type of funding for your project needs. With the proper funding from the right lender, getting your development plans in motion can be a smooth process. Here’s a breakdown of three common development financing loans and how to choose the right one for your project.

The MCAP Development Financing Group is excited to share an upcoming development project coming this summer to the inner-city community of Glamorgan in Calgary, Alberta.

Aaron Forbes is a Senior Director based in the Central West office in Calgary and is one of the key members of our Development Finance Group. We had the chance to learn more about his role and experience as well as his perspective on what makes MCAP unique from its competitors.