Why Cave Avenue?
The Town of Banff and Parks Canada have been working together to address housing issues in our community. In December 2015, Parks sold the lease to 14 lots within town boundaries to the Town of Banff at a significant discount – 90% below the assessed market value.
Those included lots on Coyote Lane and on Cave Avenue. They were made available only to the Town of Banff on the condition we develop affordable rental housing for Banffites. Under those same conditions, the land cannot be resold, and the units built on it must remain rentals in perpetuity. We also must build multi-unit developments – single family homes are not permitted under the terms.
The lots are located at 145 to 155 Cave Avenue, just past Sundance Road near the Cave and Basin National Historic Site. The lots are empty, within the town boundaries, and on a residential street, making it a suitable place to develop housing.