Real Estate

CANMORE – High demand and low supply in recreational properties across Canada – including in Canmore – is set to drive up prices in 2021, according to the Royal LePage's spring recreational property report.

Canmore Lodge was formerly a hotel, bar, billiard club, and liquor store originally built circa 1976.

Heading into 2021, the Canmore real estate market was definitely geared toward sellers as demand for properties in the mountain town soared during the pandemic.

”[It’s] to save time and really cut red tape of having to go back to council for an appointment that’s already contemplated in the land-use bylaw."

“Value trends have seen the land values staying the same, with buildings down because of a slight amount of depreciation," said assessor Frank Watson of Banff's overall residential assessments dropping about one per cent.

The Smith Creek and Three Sisters Village area structure plans under consideration by Canmore council represent 80 per cent of the developable land left in the community.

Banff's residential property assessments remain relatively stable, decreasing about one per cent.

Banff Hospitality Collective plans to open a new restaurant and tavern in the former Mel's building on Lynx Street.

CANMORE – While the community waits for Three Sisters Mountain Village to officially submit applications for new area structure plans, the developer has also been working on a new commercial subdivision – The Gateway.

Canmore's subdivision authority approved an application by Stone Creek Properties for block 10 – a residential neighbourhood – even though development of commercial lands for the resort centre have not yet commenced.