Vancity expands innovative multiplex home financing to help solve B.C.’s housing crisis

TERRITORIES OF MUSQUEAM, SQUAMISH AND TSLEIL-WAUTUTH NATIONS and VANCOUVER, British Columbia, April 08, 2026 (GLOBE NEWSWIRE) -- Building on its commitment to deliver innovative housing and home ownership solutions, Vancity is advancing its work to expand access to multiplex home construction financing. A critical tool for British Columbians interested in turning their single-family lots into duplexes, triplexes, and fourplexes, multiplex construction mortgages help address Metro Vancouver’s housing shortage.

Since launching its first-in-market Multiplex Construction Mortgage in the Fall of 2025, Vancity has financed more than 45 projects worth a total of $60.4 million plus in approvals. Growing interest from homeowners and small-scale developers reflects pent-up demand for new and innovative housing solutions.

“This is banking done differently,” said Wellington Holbrook, CEO of Vancity. “Too many Canadians are locked out of housing because the banking system isn’t keeping up. We’re proving that with purpose-driven innovation, banking can help people get ahead, not just get by. Multiplex housing isn’t just about density, it’s about giving families, neighbours, and communities a real chance to thrive in their own homes.”

Ryan McKinley, Housing Strategy and Financing Innovation at Vancity, added: “We’ve seen first-hand how creative financing can unlock housing solutions for everyday people. You don’t need to be a large developer to add a duplex or fourplex to your property. With the right tools, people can build gentle density that works for them and their community. Our goal is to make it easier for residents to access these opportunities.”

Vancity’s creative and often unique approach to mortgage lending for a diverse range of homes and home ownership styles reflects its 80-year commitment to innovation and community-focused banking. The credit union is challenging traditional financial models by offering modern, inclusive, and values-driven products that empower members, while reinvesting in the communities they serve. Multiplex financing is just one example of how Vancity sees possibilities where others don’t, enabling homeownership and affordable, sustainable development in Vancouver and across B.C.

Key features of Vancity’s Multiplex Construction Mortgage include:

Financing of up to 80% of project costs
Interest-only payments during construction for up to 18 months
Flexible terms and amortizations for co-owners
Rental offset options to support qualification

INTERVIEW OPPORTUNITY

Vancity will showcase its expertise in multiplex housing on April 8 at Unpacking Multiplexes Vancouver, hosted by Daniel Foch and Nick Hill of The Canadian Real Estate Investor Podcast. The event brings together industry experts, developers, and investors to explore how innovative financing, zoning insights, and construction strategies can expand housing opportunities across Metro Vancouver.

Event location: Roundhouse Community Arts & Recreation Centre, Vancouver.
Event date and time: April 8 at 6pm PST
Interview contact and availability: An interview with Ryan McKinley, Housing Strategy and Financing Innovation at Vancity, can be scheduled during business hours before the event. He will be available for interviews before and after the event at the Roundhouse as well. To arrange an interview, contact the media relations line below.

About Vancity

Vancity is a values-based financial co-operative serving the needs of its 588,000 member-owners and their communities, with offices and more than 60 branches located in Metro Vancouver and Squamish, the Fraser Valley, the Sunshine Coast, the Vancouver and Gulf Islands and Alert Bay, within the territories of the Coast Salish and Kwakwaka'wakw Peoples. With $41 billion in assets plus assets under administration, Vancity is Canada's largest credit union. Vancity uses its assets to help improve the financial well-being of its members while at the same time helping to develop healthy communities that are socially, economically, and environmentally sustainable.

Media Relations | Vancity
mediarelations@vancity.com
T: 778-837-0394

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