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.
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.
Qualified Buyer for The Aster
Local bank contacts for mortgage pre-qualification:
Banff Financial Institutions (suggested but not limited to)
Alberta Treasury Branch
317 Banff Ave.
Call 403-762-8505 OR
Book a meeting at www.atb.com
Bow Valley Credit Union
216 Banff Ave.
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)
Number of Occupants
1 bedroom + loft
First-Time Home Buyer:
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:
*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 email@example.com.
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 firstname.lastname@example.org.
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
Corner 1 bed / 1 bath (561 sq. ft.)
Hector II (2)
$348,485 + $17,424 GST = $365,909
1 bed + loft / 1 bath (702 sq. ft.)
Belmore I (3)
$401,515 + $20,076 GST = $421,591
Corner 1 bed + loft / 1 bath (706 sq. ft.)
Belmore II (1)
$409,091 + $20,455 GST = $429,545
Corner 1 bed + den / 1 bath (720 sq. ft.)
$393,939 + $19,697 GST = $413,636
2 bed / 2 bath (854 sq. ft.)
Earle I (1)
$435,606 + $21,780 GST = $457,386
Earle II (1)
Corner 2 bed / 2 bath (858 sq. ft.)
Earle III (2)
$443,182 + $22,159 GST = $465,341
Earle IV (2)
Earle V (1)
$443,182 + $22,195 GST = $465,341
Barrier-Free 2 bed / 1 bath (854 sq. ft.)
Norman I (1)
$428,030 + $21,402 GST = $449,432
Norman II (1)
Corner 2 bed loft / 1 bath (895 sq. ft.)
$454,545 + $22,727 GST = $477,273
2 bed loft + den / 1 bath (1031 sq. ft.)
Wheeler I (1)
$469,697 + $23,485 GST = $493,182
Corner 2 bed loft + den / 1 bath (1037 sq. ft.)
Wheeler II (1)
$477,273 + $23,864 GST = $501,136
2 bed loft / 1 bath (1071 sq. ft.)
Wheeler III (1)
$511,364 + $25,568 GST = $536,932
Corner 3 bed / 2 bath (945 sq. ft.)
Corner 3 bed loft / 2 bath (1025 sq. ft.)
3 bed loft + den / 2 bath (1226 sq. ft.)
$530,303 + $26,515 GST = $556,818
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.
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.
Select one option below and provide the required supporting documentation. This provides proof you have Parks Canada eligible residency and Aster residency eligibility.
Answer Yes if:
(Note: Mortgage preapproval may be required to be updated at sales day.)
If you need assistance or cannot complete the submission online, email email@example.com to make an appointment.
This field is not part of the form submission.
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