Wolf Street Housing Project

An artist rendering of the new Wolf Street Housing project

Bringing below-market-priced homes and community space to the heart of Banff.

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 90 new homes for eligible residents and 8,000 sq ft of community space to be used by all Banffites.

 The Wolf Street Housing Project supports a diverse, inclusive, and sustainable future for Banff.

Project Updates

Updated: March 17, 2026

  • Banff 'raising the roof' on affordable housing and community hub : Town of Banff starts building newest affordable housing complex — March 17, 2026. View media release >
  • Green light: Project receives approval to proceed with detailed design, with funding announced July 2025.
  • Geothermal well: A geothermal well was drilled in the east lot of the site in early 2026.
  • Water and sanitary: Connections for both buildings will be finished by the end of March 2026.
  • Gas and electricity: Connections for both buildings will be finished before the end of March 2026.
  • East Building start: In March 2026, crews will begin excavation and foundation work for the East Building. All work will stay within the fenced construction area.
  • Groundbreaking: A ground-breaking ceremony is scheduled for March 17, 2026.
  • Completion target: The two buildings are estimated to be finished by the end of 2027.

Project Overview

The Wolf Street Housing project will deliver 90 new permanently below-market-price homes in a central, walkable location. Designed with community in mind, this development includes accessible design, sustainable features, and an 8,000 sq. ft. community space for local residents and organizations.

Download the building renderings and floor plans: Project renderings and plans (15 MB PDF)

Wolf Street Render 1
Wolf Street Render 2
Wolf Street Render 3
Wolf Street Render 4
Wolf Street Render 5
Wolf Street Render 6
Location50 Wolf Street, Banff 
(Between the Banff Park Lodge and the Banff Community Health Centre, and beside the Banff Canoe Docks)
Total Units 90 below-market-price homes
Unit Types
  • 32 studio rental units
  • 43 one-bedroom rental units
  • 15 two-bedroom, price-restricted ownership units
AccessibilityAll units follow Universal Design standards; four one-bedroom units are fully accessible
Project StatisticsSite Area: 3243.5m2
Building Area: 5112m2
West Building Height: 14.5m
East Building Height: 13.5m
Parking SummaryTotal Parking Stalls: 20
Barrier-free Stalls: 4
Bike StorageWest Building
  • Wall Mounted: 50
  • U-Shaped: 26
East Building
  • Wall Mounted: 69
  • U-Shaped: 35
Total Secure Bike Parking: 180
Suite Summary
  • 15x 2 Bedroom units for sale
  • 75 Rentals (studio +bed)
  • 90 total units

The prices of for-purchase dwellings and rental apartment rates will be set once all construction costs are finalized in 2026.

The Banff Housing Corporation will manage the sale of the 15 price-restricted units and the rental of 75 apartments through the eligible resale and rental lists. Learn more from the Banff Housing Corporation.

  1. Sustainability & Accessibility

Community Space

Funded by the Pauw Foundation, the community space within the development will be open to all residents and support programming for local families and nonprofits. It is designed to be a welcoming, inclusive hub for gathering, learning, and accessing services.

Features Include

  • A shared community kitchen and dining/lounge area
  • A dedicated space for the Family Resource Network
  • A food distribution centre
  • Flexible meeting and programming rooms for community organizations

Funding and Partnerships 

The Wolf Street project is made possible through significant funding contributions from all levels of government and the Pauw Foundation.

Funding Sources

Total Project Cost and Funders (Phase 1 & Phase 2 combined) .

AmountFunding Source
$3,333,333Housing Accelerator Fund
$6,434,175Provincial Housing Grant
$5,000,000Pauw Foundation Donation
$175,000Federation of Canadian Municipalities
$508,000General Capital Reserve 
$26,092,450Debt
$41,542,958Total

Debt

The debt-financed component will be repaid as follows:

  • Short-term borrowing of $7,675,361 will be repaid within two years from the sale of 15 units.
  • Long-term borrowing of $18,417,089 will be repaid over a 50-year term, entirely from rental fees.