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 restricts the market 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 are required to agree to and abide by the terms of the Sublease Agreement. These requirements help ensure that BHC housing is used as intended — supporting the Banff community with resident-occupied housing. The sample sublease agreements provided below are for general informational purposes only; they offer an overview of the terms and requirements a homeowner can expect to agree to during their time occupying a BHC property. However, these samples are not exact versions of any specific sublease. Prospective buyers should always review the actual sublease agreement in full with their solicitor prior to 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.