High-rise Retrofit Improvement Support Program (Hi-RIS)
City of Toronto's High-rise Retrofit Improvement Support Program (Hi-RIS)
for Contractors and Building Management
The City of Toronto's Tower Renewal program offers a range of services to residential apartment building owners including the Hi-RIS financing program. Hi-RIS provides competitive financing at fixed rates to building owners implementing improvements that result in energy and water conservation. Residential apartment buildings with three or more storeys located in Toronto are eligible to apply. The maximum funding available is 10% of CVA per building.
Eligible improvements include upgrades to the building envelope, mechanical systems, LED lighting, low-flow toilets and in addition, Hi-RIS can now finance renewable energy generation such as geothermal or geo-exchange. In the past, Hi-RIS has financed the replacement of roofs, windows and balcony doors, boilers, elevator motors and more. Financing is tied to the useful life of equipment not the simple payback, therefore Hi-RIS can fund a range of capital intensive upgrades.
With Hi-RIS, building owners can:
- Control the entire process by hiring energy auditors and contractors of their choice.
- Benefit from financing which is not a mortgage encumbrance.
- Secure financing that is attached to the property, not the owner.
- Take advantage of low interest rates before December 31, 2017.
Get in touch with Fariha Husain, Project Manager at email@example.com or 416-392-9688 and visit www.toronto.ca/hi-ris for more information on this program.
Locate a qualified HVACR Contractor to work on these projects by going to our Contractor Locator page. All HRAI Member Contractors have been prescreened and have the required trade licenses, technical certifications and insurance coverage.
Back to News & Events