Banff Centre Plans $46.9M Staff Housing Project as Shortages Hit Hiring

Housing shortages in Banff are affecting hiring at one of the town’s largest employers, the Banff Centre for Arts and Creativity says as it moves ahead with a major staff housing project.

The centre’s 2024-25 annual report outlines a proposed $46.9-million development that would add roughly 85 new housing units on campus, as the organization looks to address recruitment and retention challenges tied to the Bow Valley’s tight rental market.

“Banff Centre has experienced difficulty attracting and retaining staff, especially professionals with families and other particular housing needs, due to the general lack of inventory in the Bow Valley,” said Chris Lorway, president and chief executive officer of Banff Centre for Arts and Creativity.

The report highlights housing as a growing operational issue for the organization, which says it is the fourth-largest employer in Banff. Charity Intelligence Canada reported the centre had about 278 full-time staff as of 2024, with additional part-time and contract workers.

The project remains in the planning phase. The organization says it has spent the past 18 months developing a plan that assesses land and building use, outlines long-term campus development and identifies the housing needed to support staff at different life stages, and is now working to secure funding.

The current concept calls for a mix of one-, two- and three-bedroom units designed to accommodate staff at different life stages, including families, as the centre says housing shortages have made it difficult to recruit and retain staff.

While the annual report outlines a tentative construction timeline beginning in 2027, with completion targeted for 2029, the project remains subject to funding and approvals. The organization has not publicly identified a specific site on campus, though the report indicates the development would replace existing staff housing, including several single-family homes and townhouses, with higher-density units.

Banff Centre currently provides a mix of on-campus accommodation, including dorm-style and shared units, as well as some off-site housing through partnerships. However, housing is limited and not guaranteed for all employees.

The annual report does not identify external funding sources for the project, and the organization says it is seeking outside support, including government housing programs and contributions from private donors.

“We are actively looking for opportunities available through government housing programs, paired with foundation and private supporters to help us achieve this goal,” Lorway said.

The proposal comes as housing pressures in Banff continue to intensify, with municipal officials exploring new tools to address the issue. With the town’s rental vacancy rate below 1% and a housing shortfall estimated between 700 and 1,000 units, the town is considering whether business licence fees could be used to encourage employers to provide housing for their workforce.

“The town’s philosophy is that employers should play a central role in providing adequate housing in the community, equivalent to their staffing needs,” said Jason Darrah, communications director for the Town of Banff, in a previous statement to Bow Valley Insider.

Under the concept, businesses that provide staff housing could see lower licence fees, while those that do not could face higher costs, creating a financial incentive to add to the local housing supply.

The town is also directly investing in new housing.

Banff began construction in March on a $41.5-million housing project at 50 Wolf Street that will add 90 homes for local residents, including 75 rental units priced below market rates and 15 homes sold at reduced prices.

The project, the largest built by the town in more than a decade, is expected to be finished by 2027. Most of the cost will be covered by borrowed money, which the town plans to pay back over time using rent from the new units.

Together, the projects point to a broader shift in Banff, with public institutions and local government taking a more direct role in building and funding housing for workers. The Banff Centre says it will continue refining its housing plans as it works to secure funding and move the project forward.