Buyer to "Assume Mortgage" on completion. The project offers two significant advantages: 1. Greater financing certainty: The CMHC-insured construction mortgage has already been approved and funded. The buyer would only need to assume/takeover the existing mortgage upon "project completion". No concern about financing uncertainty or concern on construction. 2. Approximately $135,000 in CMHC premium savings: The existing mortgage was approved with a 2.9% CMHC premium. Based on the current 5.6% premium rate, the project benefits from substantial savings compared with arranging the same financing today. Project and financing details: • Total approved construction mortgage: $5,130,380 • Existing CMHC premium: 2.9%, or $139,580 • Estimated CMHC premium savings: approximately $135,000 • Required cash to close est.: $859,620. • Current mortgage lender: CMLS • Estimated completion: May 2027 • Total number of units: 29 • Building configuration: 4 storeys plus basement • Elevator included • Wheelchair-accessible design • Over 1,300 sqft rooftop patio • Office room • The rental pro forma uses projected rents for the bachelor and one-bedroom units that are below the Edmonton average for comparable properties, providing potential rental-growth upside • Floor plans and appraisal report are attached for review