Minga Investments Ltd. is a licensed builder, in good standing since initial registration, with the Home Construction Regulatory Authority (HCRA) in accordance with the Ontario New Home Warranties Plan Act, and the New Home Construction Licensing Act.

The missing middle represents a shift toward ‘gentle density,’ introducing multiplexes to neighbourhoods where they were once restricted but are now permitted as-of-right. For decades, much of the city sat within the ‘Yellowbelt’ – vast residential zones frozen for single-family homes. Today, these areas are being unlocked, finally allowing for multi-unit housing.

Buildings like fourplexes and sixplexes are designed to blend seamlessly into lower-density streetscapes. By integrating these forms, we open the door for more people to live in and enjoy sought-after neighbourhoods that were previously out of reach.

Minga is a builder and investment company that sources prime lots to develop high-performance homes and multiplexes in Toronto’s most sought-after neighbourhoods. Following construction, we execute a strategic refinance into low-cost, long-term debt, allowing us to return capital to our partners. From there, we offer the flexibility to either manage the assets for long-term wealth generation or exit through a strategic sale, depending on our investors’ objectives.

An Integrated Design Process (IDP) is a collaborative, whole systems approach to building that brings together all key stakeholders – owners, architects, engineers, contractors, and energy specialists from the very beginning of a project to make sure everyone is on the same page.

We maximize every lot’s potential to build the most spacious units as possible. Our primary focus is on family sized layouts – offering three or more bedrooms – while also providing thoughtfully designed smaller units perfect for couples, individuals, and young families.

We focus exclusively on high-conviction opportunities, targeting an IRR of 30–50%. There are truly few other asset classes that offer this level of capital efficiency by allowing investors to recoup most, if not all, of their initial principal while maintaining full equity ownership.

First, we generate forced appreciation. By redeveloping and improving the property, we actively increase its value beyond market growth alone. Thoughtful design, efficient construction, and strategic positioning create immediate equity upon completion. 

Second, we optimize returns through refinancing. Once the project is stabilized, we refinance and leave minimal of our initial equity in the property. This allows us to recover capital to reinvest while maintaining ownership, significantly increasing our return on invested capital. 

Third, the assets produces ongoing monthly cash flow. After all expenses and debt obligations are covered, the property generates consistent income. At the same time, the revenue coming in from rent contributes to the mortgage pay down, building additional equity each month. 

Finally, if we choose to sell, we capture the increased value created through redevelopment – realizing the forced appreciation as profit. 

Within a typical timeline of 15–18 months from planning to completion, we employ a sophisticated ‘build-and-refinance’ strategy. Upon completion of the build, the property is refinanced to return investor capital while preserving their original equity stake. At this milestone, investors enjoy total flexibility: they can maintain their ownership for long-term cash flow, roll their gains into a subsequent projects, or exit by selling their interest.

In the past, registering a new residential rental property required paying HST as it becomes a commercial property and is charged on the asset’s full appraised value upon completion. To combat the housing crisis, the government now offers a 100% rebate on the HST for new purpose-built rentals, saving builders hundreds of thousands of dollars. In addition HST paid on labour and materials during the build are also a rebate.

Complementing this, the City of Toronto has waived development charges (DCs) and parkland dedication fees for multiplexes with up to six units. Combined, these two incentives are essential to the financial viability and profitability of ‘missing middle’ investments.

Upon completion of the build, we leverage the CMHC MLI Select program to transition from construction debt to permanent financing. This strategic refinance replaces the initial high-interest loans with a new, government-backed mortgage optimized through a points-based system.

By prioritizing superior energy efficiency, our builds qualify for terms far more favourable than traditional bank rates through this program which includes significantly extended amortizations and increased Loan-to-Value (LTV). This process is the key to our model, as it allows us to maximize capital extraction and lock in long-term, low-cost debt for our investors.

Initially before refinancing with CMHC we secure project funding through a combination of conventional land mortgages and specialized construction financing – utilizing either private capital, CMHC loans or construction loans. We also like to have a stake in projects ourselves and commit our own private equity to drive the build forward with our own ‘skin in the game’.

A Net Zero build is defined by a high-performance building envelope and advanced mechanical systems. We achieve this by significantly increasing both interior and exterior insulation and installing high-efficiency triple-pane windows. 

The home’s climate and domestic hot water are powered entirely by high-efficiency air-source heat pumps, eliminating the need for fossil fuels. Crucially, we prioritize a superior airtight seal, consistently achieving an Air Change per Hour (ACH) rating of less than 1.5. This meticulous approach to the building envelope ensures maximum energy retention and long-term durability.

We typically utilize the Committee of Adjustment process to obtain minor variances for fourplex and sixplex developments, aiming to enlarge building envelopes beyond what restrictive zoning bylaws typically allow. Although this process adds a few months to the planning and approvals timeline we consider this a worthwhile investment as it usually will add more square footage and height to the units.