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Posted on: February 17, 2022

The Aster complex on track to sell all homes

COURTYARD news

The Aster complex on track to sell all homes
One barrier-free condo available for people with accessibility needs, 60+

With more than 85% of the homes in The Aster development already sold, the Town of Banff is set to start planning its next affordable housing project. The Aster is a 33-unit development of for-purchase homes being built by the municipality in the heart of downtown Banff. For a limited time, one barrier-free unit is available for eligible Banff residents.

 Scheduled for completion by the fall of 2022, the Banff Housing Corporation is selling dwellings at the cost of construction, without any profit. Sales at below-market value is allowing more families put roots down in Banff. So far, 23 of the new owners are first-time home-buyers. Buyers must be Banff residents. 

 “We are very pleased with the fair and transparent process that almost sold all units to Banffites in two rounds of sale days,” says Sharon Oakley, Manager of Housing Sustainability for the Town of Banff. 

 The process saw more than 400 residents register for information about purchasing in the Aster last year, followed by an open house and an application process for people to enter a lottery for the chance to buy one of the units. About 70 people were fully qualified and approved by their financial institution to buy a unit. The lottery set the order of buyers for sales day, until everyone in the lottery order list was offered an opportunity to buy.

“The larger units went fastest, so some people at the end of the list were not able to buy their preferred option. We have a few 1-bedroom units remaining. We also reserved some barrier-free dwellings exclusively for people who have mobility requirements or need other accessibility designs. One is left over after all approved lottery buyers were offered the homes,” said Oakley. 

“For only one week, we are offering a 2-bedroom home for a buyer in our community with accessibility needs, or who is 60 years old or older, who wants to right-size their home and age in our community.”

The barrier-free homes are designed for people requiring special modifications such as wheelchair accessible bathrooms, wider doorframes and easy access light switches and door handles. The BHC will consider selling the barrier-free units to other residents once they have exhausted all potential options for purchasers with an identified need.

Oakley says the process was very lengthy because people are buying homes without seeing finished condos; the construction has only recently completed the foundations, connections and underground parkade, and builders are now starting work on the three levels of homes. 

The information gathered by the Town in the process of speaking to all potential homeowners – including the high demand for renters and buyers, and the demand for certain sizes of homes –   will be used to make decisions about the next housing project, planned for Cave Avenue in the next few years.

For more information, visit AsterBanff.ca

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