Ownership

Ownership Program

Eligibility & Guidelines Download RRL Application

The Banff Housing Corporation (BHC) offers a diverse range of below market home ownership opportunities that are sold to eligible Banff residents who are currently on the Registered Resale List (RRL).  The portfolio includes 216 ownership properties encompassing 1-bedroom apartments to single family homes.

  • 32 Single Family Home
  • 63 Townhome
  • 78 Duplex
  • 43 Ownership Apartment

To maintain perpetually below market valuations of these properties, the BHC has implemented a unique Sub-Lease Agreement, whereby the homeowner pays for the cost to build the home and in turn, the BHC restricts the resale valuation of the home under two models:

  1. Equity Share: These properties are based on shared equity between the homeowner and the BHC. The homeowner equity ranges 64.6% to 86.8%, and the BHC retains the remaining equity. The future resale value of these properties is determined by a formula using the current appraised market value and the homeowner’s equity percentage.
  2. Price Restricted: These properties are sold at 20-30% below-market. The resale value is capped at 2% per year (maximum) based on the current owners purchase price.

All residents who purchase a BHC home must agree to and follow the terms outlined in a Sublease Agreement. This agreement includes key conditions such as maintaining the home as a primary residence, meeting Banff National Park residency eligibility, following the resale process, carrying appropriate insurance, and adhering to rules regarding renting out the home. These requirements ensure BHC housing serves its intended purpose — providing resident-occupied homes that support the Banff community.

The sample sublease agreements below are for general information only. They provide an overview of the typical terms and conditions homeowners can expect but are not exact versions of any specific agreement. Prospective buyers should review the actual Sublease Agreement in full with their solicitor before purchasing a BHC home.

Generic Price Restricted Sublease Sample

Generic Equity Share Sublease Sample

Before you download the RRL Application, review the Eligibility and Guidelines above to ensure that you eligible for the program.

Applicants acknowledge that eligibility requirements may change over time.

Acknowledgement

In the spirit of truth and reconciliation, we honour and acknowledge that we live, work, and play on Treaty 7 lands – the traditional territories of the Iyârhe Nakoda Nations (Chiniki, Bearspaw, Goodstoney), the Blackfoot Confederacy (Siksika, Kainai, Piikani), the Tsuut’ina Nation, the Ktunaxa, Secwépemc, Dene, Mountain Cree and Métis Nation of Alberta District 4 within the Battle River Territory.

We are grateful to those whose territory we reside on and acknowledge the many First Nations and Métis who have lived and cared for these lands for generations.