Form Centre

By signing in or creating an account, some fields will auto-populate with your information and your submitted forms will be saved and accessible to you.

The Aster Application to Purchase

  1. Aster Application
  2. The Aster - Application to Purchase

    The Aster development is a 33-unit condominium complex being built in the heart of Banff. The development will provide affordable, for-purchase housing, for eligible Banff residents, with a priority to sell to first-time home buyers.  Units are sold at the cost of construction and well below market value. The Banff Housing Corporation (BHC) will manage the building and sales of the dwellings, and holds equity in each unit. More information is available at AsterBanff.ca.

     With more than 400 people expressing interest in purchasing a unit, sales will be determined through a lottery held in mid-January 2022. Qualified applicants will be entered into a random lottery draw that will place them in numerical order for purchasing a dwelling, until all units are sold. First, applicants for the barrier-free units will be selected, then first-time home buyers, then other buyers.

    Only one application is allowed per individual or group of individuals interested in owning a dwelling unit together. Multiple applications from an individual or co-ownership group will be disqualified. The primary applicant must complete the application, and all adults who will be registered as owners of the dwelling must complete the relevant sections of the application and submit required supporting documents. Owners must reside in the dwelling. 

    Please review the following information before you complete your application. You will need to compile and scan or photograph required documents before you start your application. Do not submit an incomplete application.

    Eligibility 

    To purchase a dwelling in The Aster, you must meet the criteria as resident and qualified buyer. Any applicants interested in a barrier-free dwelling will also need to meet the criteria listed under barrier-free buyer. See below.

    Resident Criteria

    • Must meet Parks Canada’s eligible resident criteria:
      • Someone whose primary employment is within Banff National Park;
          or
      • Someone who operates a business in Banff National Park AND whose presence at the place of business is necessary for the day-to-day operation of the business;
          or
      • A retired individual who currently lives in Banff National Park AND who worked in the national park for five consecutive years immediately prior to retirement (as an employee or as a business operator needed for day-to-day in operations the park);
        or
      • Someone who lived in the park at the time of their retirement, AND who was living in the park on July 30, 1981;
         or
      • An individual, or their descendants through blood or adoption, who leased public lands in Banff prior to May 19, 1911;
         or
      • The spouse or common-law partner or dependent of anybody referred to above.

    Qualified Buyer for The Aster

    • Must meet the Parks Canada eligible resident criteria; 
    • Must be a Canadian citizen or a Permanent Resident; 
    • Must have worked in Banff (or lived in Banff, for retirees) for at least six consecutive months prior to application submission, OR have lived in Lake Louise for at least six consecutive months AND have children attending either Banff Elementary School or Banff Community High School;
    • Must agree the Aster will be his/her primary residence and is owner-occupied;
    • Down payment is a minimum of 10% of sales price of dwelling;
    • Has mortgage pre-approval matching the sales price of the dwelling you would like to purchase (For example, if the total sales price of a dwelling is $375,000, you have a down payment + mortgage financing that is equal to or greater than the total sales price); and
    • Agrees to the suggested maximum number of people per unit restriction

    Local bank contacts for mortgage pre-qualification:

     

    Banff Financial Institutions (suggested but not limited to)

     

    Alberta Treasury Branch 

    317 Banff Ave.

    Cascade Plaza

    Call 403-762-8505 OR

    Book a meeting at www.atb.com 

     

    Bow Valley Credit Union 

     

    216 Banff Ave.

     

    Call 403-762-3398  

     

    Canadian Imperial Bank of Canada 

     

    98 Banff Ave.

    Call 403-762-3317 OR

    Book a meeting at www.cibc.com 

     

    Banff Housing Corporation Terms

    Headlease: The head lease is the original lease directly between the landowner (Parks Canada) and the tenant (Banff Housing Corporation).

    Sublease: The sublease is the agreement between the Banff Housing Corporation and the homeowner. There are rules and regulations that the Banff Housing Corporation is bound to through the head lease with Parks Canada that make up the sub lease agreement.

     For more information on the Banff Housing Corporation please visit www.banff.ca/FAQ

     To view a sample sublease visit https://banff.ca/161/Banff-Housing-Corporation-Homeowner-Poli and click on the BHC Price-Restricted Sublease (PDF)

    Maximum occupants per unit (to be finalized by the BHC) 

    Dwelling Type

    Number of Occupants

    Dwelling Type

    Number of Occupants

    1 bedroom

    2

    2-bedroom loft

    4

    1 bedroom + loft

    4

    3 bedrooms

    6

    2 bedrooms

    4

    3-bedroom loft

    6


    Definitions

    First-Time Home Buyer:

    • An individual(s) who does not own either personally, jointly, or indirectly through a trust of business, any real estate anywhere (this must be true for all individuals who would be on title) OR
    • Any individual(s) who have not owned in the past five years, either personally, jointly, or indirectly through a trust of business, any real estate anywhere. 

    Barrier-Free Home Buyer: 

    There are two barrier-free dwellings available. Priority for these dwellings will be given to those who are identified on the application as in need of a barrier-free unit and meet the following based on priority:

    • Priority 1 - Has supporting documentation from a medical doctor indicating need OR
    • Priority 2 - Minimum age of 60+

    *Any barrier-free units not allocated to prioritized buyers will become available during the sale day.

    Barrier-Free Dwelling: An accessible and inclusive design that creates a built environment usable by people with physical or other disabilities. This can include wider door frames to accommodate a person in a wheelchair or a strobe smoke detector for people with hearing impairments.

    Other Eligible Home Buyers: 

    Any applicants who do not fall under the category of First Time Home Buyer or Barrier Free Home Buyer. This includes anyone who currently owns property or has owned property within the last five (5) years.

    Primary Residence: The residence is the place the applicant ordinarily and continually occupies on a full-time basis, as determined by the Corporation. The BHC Board determines full time basis to be day to day.

    Applicant(s): An adult(s) that will be registered on title as an owner(s). All adults that will be registered as owners of a dwelling must complete all sections of the application and submit supporting documentation.

    Required documentation can be submitted by photographing or scanning the document and uploading to this online form as a PDF or image file. Selected applicants may need to provide printed documentation at the time of purchase.

     The information you provide must be true. Applicants who are selected to purchase will be required to swear to a statutory declaration of the truth of the information.

    If you are unable to complete the form online, book an appointment to complete paper documentation by emailing heather.bolt@banff.ca.

    PERSONAL INFORMATION NOTIFICATION

    The personal information you provide on this form is being collected under the authority of Section 33(c) of Alberta’s Freedom of Information and Protection of Privacy Act. This information will be used by BANFF HOUSING CORPORATION to determine eligibility for and to administer the Housing program in BANFF. The privacy provisions of the Freedom of Information and Protection of Privacy Act protect your personal information. Your personal information will not be shared with third parties outside this program. If you have any questions about the collection of this information, please contact BHC Housing Development Coordinator at 403-497-5242 or email heather.bolt@banff.ca.

  3. General Information

     

    Dwelling Descriptions

     

    Name of dwelling type and number of units

     

    Price to Buyer

     

     

    Approximate Property Tax (2022)

     

    1 bed / 1 bath (558 sq. ft.)

    Hector I (10)

    $340,909 + $17,045 GST = $357,955

    $1652

    Corner 1 bed / 1 bath (561 sq. ft.)

    Hector II (2)

    $348,485 + $17,424 GST = $365,909

    $1661

    1 bed + loft / 1 bath (702 sq. ft.)

    Belmore I (3)

    $401,515 + $20,076 GST = $421,591

    $2078

    Corner 1 bed + loft / 1 bath (706 sq. ft.)

    Belmore II (1)

    $409,091 + $20,455 GST = $429,545

    $2090

    Corner 1 bed + den / 1 bath (720 sq. ft.)

    Byron (1)

    $393,939 + $19,697 GST = $413,636

    $2131

    2 bed / 2 bath (854 sq. ft.)

    Earle I (1)

    $435,606 + $21,780 GST = $457,386

    $2528

    2 bed / 2 bath (854 sq. ft.)

    Earle II (1)

    $435,606 + $21,780 GST = $457,386

    $2528

    Corner 2 bed / 2 bath (858 sq. ft.)

    Earle III (2)

    $443,182 + $22,159 GST = $465,341

    $2540

    Corner 2 bed / 2 bath (858 sq. ft.)

    Earle IV (2)

    $443,182 + $22,159 GST = $465,341

    $2540

    Corner 2 bed / 2 bath (858 sq. ft.)

    Earle V (1)

    $443,182 + $22,195 GST = $465,341

    $2540

    Barrier-Free 2 bed / 1 bath (854 sq. ft.)

    Norman I (1)

    $428,030 + $21,402 GST = $449,432

    $2528

    Barrier-Free 2 bed / 1 bath (854 sq. ft.)

    Norman II (1)

    $428,030 + $21,402 GST = $449,432

    $2528

    Corner 2 bed loft / 1 bath (895 sq. ft.)

    Margaret (1)

    $454,545 + $22,727 GST = $477,273

    $2649

    2 bed loft + den / 1 bath (1031 sq. ft.)

    Wheeler I (1)

    $469,697 + $23,485 GST = $493,182

    $3052

    Corner 2 bed loft + den / 1 bath (1037 sq. ft.)

    Wheeler II (1)

    $477,273 + $23,864 GST = $501,136

    $3064

    2 bed loft / 1 bath (1071 sq. ft.)

    Wheeler III (1)

    $511,364 + $25,568 GST = $536,932

    $3170

    Corner 3 bed / 2 bath (945 sq. ft.)

    Mary (1)

    $477,273 + $23,864 GST = $501,136

    $2797

    Corner 3 bed loft / 2 bath (1025 sq. ft.)

    Woodworth (1)

    $511,364 + $25,568 GST = $536,932

    $3034

    3 bed loft + den / 2 bath (1226 sq. ft.)

    Eleanor (1)

    $530,303 + $26,515 GST = $556,818

    $3629


    Please identify the type of dwelling you want to purchase, based on your need and budget. You can also add second option and third choice, or leave other choices blank.

  4. Do you require one of the two Barrier-Free dwellings?*
  5. Primary Contact - Applicant 1
  6. Have you lived in Banff for the past 6 months at time of application?*
  7. Age and Legal Status in Canada

    All applicants on title must be of Alberta legal age (18 years) and must be one of the following: a Canadian Citizen or Permanent Resident. 

  8. Status in Canada*
  9. Residency Eligibility

    Select one option below and provide the required supporting documentation. This provides proof you have Parks Canada eligible residency and Aster residency eligibility. 

  10. Select One:*
  11. ARE YOU AND ANY CO-APPLICANTS WHO WOULD BE LISTED AS LEGAL OWNERS A FIRST-TIME HOME BUYER(S)? Select one option below. You will be required to sign a statutory declaration affirming the following information on sales day.*

    Answer Yes if: 

    • You do NOT own any real estate property anywhere, either personally, jointly, or indirectly through a trust of business
    • You have NOT owned real estate in the last five (5) years
    • None of your co-applicants who would be listed as legal owners own any real estate property now or in the last five years
  12. DO YOU OWN ANOTHER BANFF HOUSING CORPORATION (BHC) PROPERTY? As per the BHC policy, residents cannot own more than one (1) BHC property at any given time. Select one option below. You will be required to sign a statutory declaration affirming the following information.*
  13. Is there a Second Co-Owner (Applicant 2) who would be a legal owner with you?*
  14. Status in Canada
  15. Are you an eligible resident in the national park?
  16. Is there a Third Co-Owner (Applicant 3) who would be a legal owner with you?*
  17. Status in Canada
  18. Are you an eligible resident in the national park?
  19. Identify Additional Occupants who would live in the dwelling (all adults, children, dependents)
  20. Identify your pets. (Maximum of 2 allowed, such as dog, cat, bird or small caged animal like a hamster. Exotic animals, farm animals and rabbits are prohibited.)
  21. (Note: Mortgage preapproval may be required to be updated at sales day.)

  22. Do not submit an incomplete application. Incomplete applications will not be entered in the lottery. To be complete, an application must contain all the required documents above, including: - Mortgage Pre-Qualification letter from your financial institution - Amount of pre-approved mortgage - Proof of Canadian citizenship or Permanent Resident status - Proof of current residence - Proof of identity - Proof of employment or retirement status

    If you need assistance or cannot complete the submission online, email heather.bolt@banff.ca to make an appointment.

  23. Leave This Blank:

  24. This field is not part of the form submission.