- SITE AREA: 1410m2
- FOOTPRINT AREA (excludes patios): 643m2 (45.6% of site)
- MAIN FLOOR AREA (excluding mechanical): 610m2
- SECOND FLOOR AREA (excluding mechanical): 610m2
- THIRD FLOOR AREA (excluding mechanical): 457m2
- TOTAL GROSS FLOOR AREA: 1677m2
- FLOOR AREA RATIO: 1.189 LANDSCAPED AREA (excludes ramp): 595m2 (42%)
- AMENITY AREA (patios & balconies): 46m2 per unit (1150m2)
Banff Marten Street
Site and Building Dimensions
This important Housing Project is a 25-unit three-story multi-family residential apartment on Marten Street in downtown Banff.
The Marten Street development will consist of 23 1-bedroom units, 2 2-bedroom units and will include an 18-stall secure underground parkade, which will also house 50-bicycle stalls.
We will have an elevator for easy access and all units will have spacious balconies.
The finishes have been selected with the Town of Banff’s architectural criteria in mind and will not only be visually pleasing but will fit within the street’s commonsense esthetic.
Exterior finishes include cement panel, locally quarried grey stone, fir trim details and dark metal finished railings, windows and doors. Our landscaping plan includes an abundance of trees with some ornamental grasses and shrubs to finish off the look.
Marten Street Project Ownership
1871828 Alberta Ltd. has partnered with Larr Management Corporation on the Marten Street Project.
Larr Management Corporation will lead the Project Management team.
The Town of Banff has a Four-Year Strategic Priorities document. Within that document there are 7 key themes or priorities. The Marten Street Project supports Priority 2 Housing as it states that “Banff is challenged to provide sufficient, appropriate housing for all those eligible to reside in the town.” Our project will subtract two small 1960’s single family dwellings and replace them with a new 25-unit apartment complex. Our project further supports this theme by respecting the “neighborhood character and reinforces Banff’s sense of place” and just as important, the Marten Street Project will ensure “high standards for architecture, landscape architecture, environmental and urban design in its residential development” as our project enters its final stages.
Conformity to the existing land use patterns exists with a similar three story residential condominium project located on the other end of the block. The Marten Street Project is anticipated to actively compete within the Banff market as one of the few newer buildings available. Our building will be in excellent condition, and upon completion will have a Remaining Economic Life of approximately 60 years.
Demand for rental accommodation in the Banff market is very high with no effective vacancy experienced for some time. The current vacancy rate is at 1% or less than 1%. The potential for more supply to enter the market is somewhat restricted by National Parks who control the land supply and growth in the community. Our project will ensure compliance with Parks Canada every step of the way.
The property is located on 431 and 433 Marten Street, in a mature residential subdivision in the Town of Banff within the Banff National Park. The location allows for close access to employment, entertainment and essential residential services.
Pending permit approval, we will break ground on or before July 1, 2017.
From concept development to engineering design to module fabrication to site construction, the estimated construction schedule is 6 months with completion in January 2018.