Banff Avenue Affordable Housing Development

Banff Ave Housing

Banff Avenue Housing Development

Council approved a 33 unit development on Banff Avenue on October 13, 2020.

Information on eligibility and applications will be coming soon. Questions? Email housing sustainability manager Sharon Oakley.

Banff’s next affordable housing development will be a price-restricted home ownership project. Council directed administration to prepare a detailed scope of work report on the construction of entry-level units at 338-342 Banff Avenue.

A 2018 survey (with 501 respondents) showed 74% were currently renting and looking to enter the home ownership market, and 40% considered it extremely important to buy in the next two to four years. In that same survey, 82% said they have considered leaving Banff to purchase a home.

The recent Bow Valley Regional Housing Needs study estimated that 513 affordable housing units would be required in Banff by 2027.

Buying a Home

As with previous Banff Housing Corporation price-restricted home ownership projects, units would be pre-sold to eligible buyers. With a price-restricted purchase model, the Town would retain an equity component on each units.

Background