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Affordable Housing
Does the TSMV proposal increase affordable housing?

TSMV knows that affordable housing is a big carrot to dangle in front of Council but will it really help with the current affordable housing crisis?

TSMV says a minimum of 10% of all ‘residential units’ in the development will be affordable. This does not include the 1300 tourist homes/units they are proposing. If you include these, the percentage drops to 7%. That’s pretty low given the scale of the current problem in Canmore. And the 7% will only come online “at appropriate times to make a positive impact” during the 10-30-year build out.

In other words, it’s unlikely to happen anytime soon.

TSMV has also committed to build employee housing for the workers needed to run the commercial and hospitality ventures that will be part of their development, adding another ~10% affordable housing. Good idea, but this won’t do anything to actually decrease Canmore’s current affordability problem; it just won’t add to it! Meanwhile, some of the last developable land that could be used to aggressively tackle the problem will get covered with more 2nd and tourist homes that won’t be occupied most of the year.

Once you pick it apart, is what TSMV is offering for affordable housing really a carrot? Does it outweigh the costs of doubling the size of our town and the risks such a mega project would pose for wildlife, our small-town quality of life, our climate, and our safety and long term liability? Or is this just another rotten apple?