Local employment provisions pose challenge for sale of Canmore one bedroom

176 Kananaskis Way, Unit 304, Canmore, Alta.

Asking price: $450,000 (June, 2023)

Selling price: $445,000 (October, 2023)

Taxes: $1,815 (2023)

Days on the market: 112

Listing agents: Christopher Vincent and Laura Wright, Sotheby’s International Realty Canada

The action

This 644-square-foot unit only has one bedroom rather than two like most models at Whiskey Jack Chalets, a building designated for employee accommodations in Canmore, outside Banff National Park. The uncommon setup worked for one prospective purchaser, but conditions placed on the offer scuttled the deal. A second buyer made no such demands and closed the deal at $445,000, just $5,000 shy of the asking price.

“There are two buildings built side by side, and they have employee housing use [provisions] on them, so they require anyone living in the property to work at least 20 hours [weekly] in the valley,” said agent Christopher Vincent. Such provisions, common in the resort town, are an effort to help ensure affordable living spaces for employees in the local tourism industry.

What they got

This 22-year-old unit is surrounded by outdoor attractions, from an extensive pathway system right behind the boutique building to picturesque mountains visible from its balcony and multiple windows in the living room.

There’s a four-piece bathroom and new laundry machines, as well as an open-concept kitchen with a peninsula, a breakfast bar, and updated appliances.

A storage locker and two underground parking spots complete the package. Monthly fees are $555.

The agent’s take

“It’s on the top floor and it’s south-facing, so it has really nice views and gets good sun,” Mr. Vincent said.

“It’s also super central, maybe a 15-minute walk downtown, which is nice.”