Community Update: Progress on Housing at Three Sisters Mountain Village

Three Sisters Mountain Village continues to make progress toward supporting housing affordability and community diversity in Canmore.

A key focus of current and future development is ensuring that new neighbourhoods contribute meaningfully to local housing needs—while also supporting jobs, services, and a sustainable year-round community.

Affordable Housing Delivery

As part of the first phases of development, TSMV in partnership with their Builder Partners is delivering affordable housing units to the Canmore community and exceeding the minimum requirement of 10% of total units at the base density. To date, over 50 units of affordable housing is proposed at development permit to the Town of Canmore with 5 lots remaining to submit their development permits. Additional affordable housing units are planned in all future phases. Across the broader community, 10% of multi-residential units at base density will continue to be delivered as affordable housing, reflecting a long term commitment to housing accessibility at both Three Sisters Village and Smith Creek.

Purpose-built Rental and Employee Housing

Three Sisters Mountain Village is helping to expand the supply of purpose-built rental housing in Canmore, with more than 400 rental units planned in Phase 1. Purpose-built rentals play an important role in increasing housing availability and improving long term rental quality in the Bow Valley. To support the local workforce, 50 employee housing beds have been built in The Gateway at Three Sisters, with an additional 150 beds under construction and anticipated in 2027. This housing is intended to support people who work in the community and help ease pressure on the broader housing market. Leases are available to any business who needs employee housing.  

Land Contributions for Community Housing

As part of its affordable housing strategy, Three Sisters Mountain Village also transfers serviced land to the Town of Canmore for Vital Homes, enabling the delivery of additional community-focused housing through local housing partners. In Smith Creek Phase 1, land will be transferred to the Town of Canmore facilitating up to 26 units of affordable housing on this parcel of land.

Building Inclusive and Sustainable Neighbourhoods

Three Sisters Mountain Village’s approach to housing goes beyond unit counts. The development is focused on:

• Planning land to support a variety of housing forms in a way that reduces reliance on vehicles
• Encouraging inclusive communities that serve households with a range of incomes and life stages, and
• Partnering with local organizations to support long term, sustainable housing outcomes

Together, these efforts reflect an ongoing commitment to creating complete neighbourhoods where people can live, work, and contribute to the community year-round.