Build a Triplex in Municipality of the County of Cumberland

In practice, 'triplex' and 'three-unit building' are often used interchangeably. A triplex specifically refers to a residential building containing exactly three dwelling units, typically stacked vertically or arranged as a combination of side-by-side and stacked units. In HRM, triplexes are treated as residential buildings and qualify for residential (not commercial) financing and building code requirements.

Yes. Under the June 2024 HAF amendments, ER-2 zones permit up to 4 units per lot as-of-right (without rezoning). ER-3 zones allow up to 8 units. This means triplexes can proceed with building permit only in these zones, significantly reducing approval timelines and development risk compared to projects requiring rezoning.

Triplexes qualify for conventional residential financing since they have fewer than 5 units. This means access to residential mortgage rates, typically 0.5-1% lower than commercial rates, with amortizations up to 30 years. For owner-occupiers, CMHC-insured mortgages are available with as little as 5% down payment. Investment triplexes typically require 20% down with maximum 80% LTV.

Conversions can be excellent investments when done carefully. Advantages include lower construction costs (using existing structure), faster timelines, and preservation of heritage character that can command premium rents. However, hidden issues like outdated wiring, asbestos, or structural deficiencies can impact budgets. Always conduct thorough pre-purchase inspections and build contingency into your budget.

With Helio's modular construction, a triplex starts at $160K per unit for standard 2BR/1BA configurations. A typical 3-unit building costs approximately $480K in hard costs plus 8% soft costs (~$38K), totaling around $518K. Unit pricing varies: 1BR/1BA ($140K), 2BR/1BA ($160K), 2BR/2BA ($190K), 3BR/2BA ($210K). Use our calculator at heliobuilt.ca/calculator for exact pricing.