BANFF – The Town of Banff is moving ahead with the next steps in its plan to build an $8.5 million entry-level apartment development for home ownership on Banff Avenue.
On Monday (Sept. 9), council voted 5-1 to spend $180,000 to start with civil engineering pre-design and tender designs for the price-restricted affordable housing development at 338-340 Banff Ave. approved earlier this summer.
Councillor Peter Poole flagged concerns about the scope of the work potentially changing, and therefore the price tag, given informal discussions with neighbouring property owners.
“From my understanding there’s been discussion in the past of extending the scope of this development, and if the scope of the work changes along the way, these numbers might change as well,” he said.
“Though I am in favour of us working on housing in this town, I think this project has too many moving pieces in the air still, and I am not prepared at this point to allocate our funds to this project as currently proposed.”
The housing development plan on the table consists of 29 two- and three-bedroom units for entry-level home ownership at 338-340 Banff Ave. The lands were purchased for $1.3 million by Banff Housing Corporation in 2013.
Sharon Oakley, the Town’s housing sustainability manager, later confirmed there have been “informal discussions” with neighbouring property owners with the “intent to contribute to more affordable housing”.
“At this moment, we are looking at 338 and 340 and nothing has come forward at this stage of the game,” Oakley said.
“Should it come forward, then we will likely come back to council to realign this project.”
The $180,000 price tag includes civil engineering pre-design, a traffic study, survey, geotechnical investigations, legal fees, tender fees, utility investigations and a $20,000 contingency.
It’s funded with $147,813 from the cash in lieu housing reserve and $32,187 from the Ti’nu community housing reserve for a total of $180,000.
Mayor Karen Sorensen said the decision before council was solely about budget to get to next steps, adding she’s confident based on what administration has said that the $180,000 is firm regardless of what other pieces of property may or may not come into play.
“The question we’re being asked today is about funding these items. What’s relevant to me is the amount of money to get this work done,” she said.
Studies have put the projected shortfall of units in Banff, if growth continues on the same trajectory, at 663 units by 2027. The community housing strategy, however, speaks to a desired future vacancy rate of three per cent.
Based on this, and recognizing that the municipal census states that approximately 60 per cent of households rent, the Town calculates an additional 60 units beyond the 663 would be needed to have a healthy vacancy rate by 2027.
Oakley said the lack of housing has many implications for the community, including social challenges and economic realities.
“Banff is still facing a steady demand to increase the affordable housing stock, both in rental and home ownership, based on the significant challenges the community is currently experiencing including high rental rates, severe overcrowding and lack of availability,” she said.
