The Banff Housing Corporation (BHC) manages an inventory of diverse home ownership properties that are bought and sold to eligible Banff residents on the Registered Resale List (RRL). The ownership program allows Banff residents to live in long-term, secure housing. The portfolio includes 216 ownership properties encompassing 1-bedroom apartments to single family homes.
- 32 Single Family Home
- 63 Townhome
- 78 Duplex
- 43 Apartment (+15 new units at Wolf St.)
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 occupying the home as their primary residence, meeting Banff National Park residency eligibility requirements, following the resale process, carrying appropriate insurance, and complying with strict regulations regarding the rental of the home. These properties also have restrictions on the maximum resale amounts to maintain perpetually below market valuations for future buyers. These requirements ensure BHC housing serves its intended purpose — providing resident-occupied homes that support the Banff community.
The BHC has implemented a unique Sub-Lease Agreement, whereby the homeowner pays for the cost to build the home and BHC restricts the maximum resale valuation of the home under one of 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.
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.
COMING SOON! Wolf Street Housing
The Town of Banff is moving forward with a new housing development at 50 Wolf Street, marking a major step toward addressing the community’s critical housing needs.
This project will develop two buildings with 15 new 2-bedroom, price restricted ownership apartments for eligible Banff residents and 8,000 sq ft of community space to be used by all Banffites.
Review the eligibility criteria and the “Current BHC Homeowners’ page before submitting application to ensure you understand what it means to be a BHC homeowner. https://banffhousing.ca/ownership/current-bhc-homeowners/
Please note – sales price of ownership units at Wolf St. have not yet been determined.
To learn more about the project, visit https://banff.ca/1363/Wolf-Street-Housing-Project