Tony Yu
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Tony Yu

Tony Yu boasts over a decade of seasoned expertise in project management, coupled with a distinguished track record in real estate development and management. His portfolio includes several notable projects, including a successful 17-unit townhouse endeavor and a thriving 16-duplex development.

Issue

Despite his wealth of experience, Tony faced a new challenge when he learned about the Canada Mortgage and Housing Corporation (CMHC) financing program. Eager to seize an opportunity in acquiring a 24-unit development site in Colwood, Tony found himself navigating unfamiliar terrain. He sought competitive financing to ensure seamless progression of the development, requiring funds for construction costs and the eventual transition to a takeout loan post-construction.

Solution

Recognizing the need for specialized guidance, Tony enlisted the expertise of Ashdown Capital’s Andrew Still at the project’s conceptual stage. Andrew’s profound understanding of CMHC loans proved instrumental in structuring optimal financing terms for Tony’s venture. Leveraging his intricate knowledge of the CMHC program, Andrew secured favorable terms by aligning the development with top-tier energy efficiency standards, thereby maximizing financing benefits. Through Andrew’s unwavering determination, Ashdown Capital secured a CMHC-insured construction loan covering 95% of the project’s costs, empowering Tony to advance his construction endeavors with confidence. Furthermore, this strategic financing approach paves the way for a seamless transition to a long-term mortgage post-construction, ensuring sustained viability and financial stability for the project.

Bolstered by Andrew’s strategic guidance and Ashdown Capital’s tailored financing solution, Tony embarks on his development journey equipped with the resources and support necessary for success. With a robust financial framework in place, Tony’s vision for the 24-unit property in Colwood is poised for realization, affirming his standing as a forward-thinking leader in real estate development.

Client Testimonial

“Andrew’s expertise in working with CMHC assisted me in acquiring a 95% loan to cost construction mortgage, which I thought was impossible. He also guided me in working through all the requirements needed from CMHC. His expertise was essential in making all of this happen. Thank you for all your help.” – Tony Yu

Services Used

  • CMHC Insured Select Construction Loan