Current BHC Homeowners
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:
- 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.
- 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.
Homeowner Newsletter
Homeowners can subscribe to our semi-annual ownership newsletter for the latest updates and news from BHC. Click the link below and provide your email and street address to sign up.
Selling your home
When a homeowner is ready to sell their property, they should review the BHC Seller’s Guide (based on their pricing model) and contact the BCH for next steps.
Owner Responsibilities
Homeowners must stay eligible for housing and follow the terms in the Sublease Agreement for as long as they live in the unit. For more on owner responsibilities and how to report suspected misuse, click the link below.
Can I rent out my home?
Homeowners may be permitted to rent their properties under certain conditions with BHC Board of Directors prior approval. Please refer to the education brief and policy for more information.
Estate Planning
Estate planning is an important part of securing your family’s future. We strongly encourage all BHC homeowners to review this education brief carefully and consult with a qualified estate planning professional to ensure their plans align with the BHC sublease agreement.
Fees and Charges
Click the link below to view the most recent information on fees and charges related to the BHC ownership portfolio.
Residents of MS1 / second mortgages)
Original homeowners of MS1 (Park Ave, Glacier Dr, Jasper Way) can click the link below to learn more on the conditions and the payout process of their second mortgage.