High-Rise Retrofit Improvement Support Program (Hi-RIS)
Are you interested in saving money and making improvements at a residential apartment building of three or more storeys?
Are you considering building improvements ranging from lighting upgrades to long-term capital investments such as renovating windows and replacing building insulation?
We have good news! The High-Rise Retrofit Improvement Support Program (Hi-RIS) program makes low-cost financing available to undertake a variety of building improvements.
The City of Toronto Hi-RIS program helps apartment building owners undertake building improvements that reduce energy and water consumption. This program provides financing with up to 20 year terms at competitive fixed rates to residential apartment buildings in Toronto with 3-storeys or more.
Our interest rates are fixed over the term and the new rates for 2019 are below:
| Term | Fixed Interest Rate |
|---|---|
| 5 years | 3.70% |
| 10 years | 4.10% |
| 15 years | 4.30% |
| 20 years | 4.40% |
The Hi-RIS financing envelope currently remains and only until December 31, 2019. Act fast and apply today!
Download the Hi-RIS Program Brochure.
Why participate in Hi-RIS?
- Pay for building improvements over time, using associated energy, water and operational savings to offset costs.
- Take advantage of NEW lower interest rates and choose a fixed repayment term of 5, 10, 15 or 20 years.
- Control the entire process by hiring energy auditors and contractors of your choice.
- Receive free support services from Tower Renewal and up to $100,000 in incentives available from Toronto Hydro and Enbridge.
- New! Hi-RIS can now fund renewable energy technology such as solar PV & geothermal.
- The Hi-RIS financing obligation is not a mortgage encumbrance and is attached to the property, not the owner.
How do I get started?
- Submit an Expression of Interest Form to tower@toronto.ca to find out how much funding you could receive.
- Complete a Funding Request Form and submit with a copy of an Energy Assessment (Energy Audit) Report and the City will prepare an agreement for your improvement project.
- Sign the Property Owner Agreement and get started on your building improvement project!