By Jennifer Groundwater

On the last morning of your Canadian Rockies ski holiday, you launch down the run that has become your favourite over the last two weeks. If only you didn’t have to leave tomorrow. There is more you would like to do here, and one visit isn’t long enough to take it all in. That afternoon, you walk in to a local real estate office to talk about how you can spend more time in this beautiful place. You end up with an investment that will ensure you have many more years of enjoying the mountains—a property in the booming town of Canmore.

Forget the old real estate adage about 'location, location, location.' Most property buyers in Canmore—notwithstanding the town’s scenic location with its amazing mountain backdrop—are into 'recreation, recreation, recreation.' Fantastic skiing at the three ski areas in Banff National Park may be the hook that gets people here in the first place, but there are plenty of other recreational opportunities to be had just east of the park boundaries.

Since the town of Banff is in a national park, there are strict guidelines about who can own property. Unless you live and work here full time, you just can’t buy a place in Banff. That’s a big reason why real estate in the town of Canmore, just outside the park gates, is thriving. People purchase for the opportunity to spend time here with friends and family, enjoying moments like the ones described in this article.

A light snow has been falling all day, and the sky has suddenly cleared to reveal a dazzling wealth of stars. After supper, you slip out to the currently being renovated Canmore Nordic Centre for a night ski on a trail lit by lamps and the Milky Way. There are a few other skiers out, but the swish of your skis is the only sound you hear as you glide along the freshly groomed tracks amidst towering evergreens. This world-class facility is only a few minutes’ drive from your condo, and after your ski you head back home with plenty of time to enjoy a hot chocolate in front of the fire before turning in.

This year, the centre is enjoying a $16.5 million face-lift in order to host the Alberta Centennial World Cup cross-country competition in December 2005. Long after the international racers have left, lucky residents and visitors will enjoy the Centre's upgrades.

Your heart pounds as you look at the 60-foot cliff you're about to rappel down…in the pitch dark. The only light comes from the headlamps worn by you and the other people on the adventure tour of Rat’s Nest Caves, led by Canmore Caverns. The group penetrates deep into the earth, passing bizarre rock formations and learning about how the caves formed. The highlight is a wiggle through the Laundry Chute, a narrow 5 m (15 ft) U-shaped shaft with 45-degree twist. Emerging from the cave into the sunlight, blinking at the sudden reappearance of the mountains, you have a new appreciation for the magnificence of the area.

This magnificence is echoed in the luxury homes that are the vacation choice for some fortunate folks. Nestled near some of the area’s beautiful golf courses, or alongside the sparkling Bow River, are some very high-end properties. Among them is the Canyon Lodge, a new 6000-square-foot show home by AlanRidge in the Cairns on the Bow area of Three Sisters Mountain Village. This gorgeous $4-million property uses the very best of the builder’s art and technology to create the ultimate mountain retreat. Drop in and see how the other half (rather, small fraction of one percent) lives.

You reach the top of the trail and admire the extravagant green colour of the two spring-fed lakes that never freeze. Only a few minutes from Canmore on the Grassi Lakes trail, you and your companions have climbed at a leisurely pace past great views of the valley, a frozen waterfall, and up to these two mountain jewels. Your laughing conversation rings out against the cliffs above the lake. There’s plenty of time to wander back before lunch in a downtown eatery, followed by an afternoon of shopping.

Both Canmore and Banff have plenty to offer visitors-turned-residents in terms of shopping and dining. Time spent exploring the towns’ main streets (and other commercial areas) can yield pleasant discoveries—beautiful works of art, outdoor gear of all descriptions, locally made soap and bath items, and unique gifts. The range of restaurants is outstanding, with fare to suit every palate and pocketbook. Banff’s international buzz complements Canmore’s quieter winter pace.

The helicopter rises quickly above Alpine Helicopter's Canmore base and turns slightly toward the east. You sweep past the Three Sisters, which seem close enough to touch. Then your pilot guides his ‘bird’ above the Spray Lakes Road, high enough to grant a wide perspective, but low enough so that every aspect of the landscape is clear and sharp in the sunshine. A sea of mountains stretches in every direction, capped with a perfect coat of fresh snow. As you hover near the massive triangular bulk of Mount Assiniboine, known as ‘the Matterhorn of the Rockies’, you realize you’ll remember this moment forever.

From high above Canmore, it’s easy to see that there is a limited amount of land in this gorgeous valley. The rate of development that’s currently underway will slow down as the town nears buildout, somewhere near 2015. For now, with an increasing number of vacation homes being built, it’s not too late to purchase a piece of property. From large and luxurious mountain homes to all-inclusive 'lock and leave' vacation condos, there is something to suit almost every taste and budget. For those who can’t be here year-round, fractional ownership (usually either a quarter-share of a property, but sometimes even a twelfth-share) is an appealing possibility.

You’re seated in a dogsled with your excited family. You’ve already gotten to know the dogs before boarding the sled, as each of you got to harness a dog after arriving at the launch site. Now it’s time to head down the snowy track, and the dogs are leaping and barking in anticipation. Suddenly, your guide gives the signal, and the sled takes off. The dogs run easily, suddenly silent, pulling you and the kids through a winter landscape of great majesty. Later on in the trip, each member of the family can take a turn mushing, but for now it’s enough to enjoy the feeling of gliding through the woods on a most Canadian kind of adventure.

Whether dogsledding or dining, skiing or snowshoeing, skating or ice climbing, the range of activities to be experienced in a Rockies winter is limited only by your imagination. The time spent here pays off in terms of experiences that can’t be had anywhere else. And the investment you make in a property will pay off in terms of pleasure for years to come. Many buyers plan to retire to their Canmore property once the time is right. In the meantime they can rent it out on a short- or long-term basis, or keep it themselves as a special retreat for family and friends.

You bait your hook and drop a line into a hole in the glassy ice of the Spray Lakes. There’s a heated hut nearby if the weather turns cold, but for now the winter sunshine warms your back and reflects off the surrounding mountains. You jig your line up and down, savouring the quiet moments before your quarry takes the bait. Suddenly, there’s a jerk on your line, and you reel in a big one—a glistening lake trout. It’s a great day for ice fishing.

The real estate market has expanded continuously and values have risen substantially over the past decade. From its grimy beginnings as a coal-mining town, Canmore has emerged as a prime recreation destination, thanks in part to its proximity to Banff, but also because of its own activities and small-town charm. Clearly, Canmore has offered its many vacation home owners a winning financial investment.

But owning a place here is about more than making mon-ey. It’s about creating memories, enjoying a lifestyle. Certainly, the unforgettable moments described here are enjoyed by Canmore and Banff visitors. And for a few, the mountain experience is something that happens every day.

BUSY BUILDERS
Canmore’s developers are currently working on projects ranging from luxurious single-family homes to cozy apartments and townhouses. New streets continue to be built in Three Sisters and SilverTip, while close to downtown empty lots are being filled in by conveniently located vacation suites with plenty of amenities. Here’s a rundown of what’s happening (compiled mid-Oct 2005):

On Canmore’s north side:
• SilverTip (Stone Creek Properties, 678-1109): 582-acre residential, resort and golf course development. Lots from $500,000. Within the development are:
• Wolfwillow Lodge II condos, $610,000-$1,475,000
• Mountain Reach duplexes (Alpine Homes, 609-6331), 3500-4000 sq ft, high $900,000s+

• Eagle Terrace (678-7700): Eagle Crossing Phase II, 1000-1650 sq ft one level condos.

Three Sisters Mountain Village (609-1152) is where the most of Canmore's development will occur in the next decade. The planned resort centre will feature a spa, shops, restaurants and hotels. Residential building of all descriptions is already well underway.
• Three Sisters Creek and Three Sisters Ridge neighbourhoods (as detailed below) feature homes by: AlanRidge Homes, 678-3990; Alpine Homes, 609-6331, Assured Developments, 866-361-0666; Cardel Custom Homes, 403-258-1511; Medican, 609-0099; Morrison Mountain Homes, 678-3727; Riverdale Homes, 678-6760; Swan Group, 678-0932.
• Stewart Creek Landing (AlanRidge): 2400-2800 sq ft townhomes on the golf course, $400,000-$850,000.
• Swan Dyrgas Village (678-0932): 930-1550 sq ft townhomes, $375,000-$500,000.
• The Cairns on the Bow (AlanRidge): estate home lots $580,000+ (site of The Canyon Lodge $4 million, 6000 sq ft show home).
• The Portal at Stewart Creek (Riverdale Homes): 986-1592 sq ft townhomes, $399,900-$750,000.
• Mountain Chalets by Cardel: 1155-1261 sq ft single detached condos, $380,000-$460,000.
• Mountaineers Village (Alpine Homes): 900-3000 sq ft apartments and townhouses, high $300,000s-$1 million.

New downtown condos around Town Centre and Bow Valley Trail are zoned for short-term vacation rentals; most allow full-time residents.
• Devonian Properties (678-3535): Resort-style Lodges at Canmore, 577-834 sq ft, $208,000-$270,000. Fairholme Village, 902-1343 sq ft, $167,000-$335,000.
• Solara Canmore Resort & Spa (609-3600): 705-1780 sq ft—fractional program $50,000+.
• Blackstone Mountain Lodge (Assured Developments, 1-888-830-8883): Vacation suites, 571-2200 sq ft, $220,000-$550,000.
• Silver Creek Lodge (866-609-8166): Vacation suites, 500-1340 sq ft, $189,900-$600,000. Fractional program $54,900+.
• Spring Creek Mountain Village (678-7700): Single level condos between two creeks—floor plans and prices available mid January.
• Fire Mountain Lodge (1-866-740-3473): Vacation suites, 1050 sq ft, $338,900.

Dead Man’s Flats, east of Canmore, is beginning to be developed. Copperstone Resort (877-678-9212) sells 685-1410 sq ft condos, $190,000-$450,000 (fractional $64,900+).

SKI KANANASKIS
Access Kananaskis Country via Hwy 40, east of Canmore. Groomed cross-country and mountaineering skiing awaits—visitor centres provide maps and route suggestions.

Host of alpine events at the ‘88 Olympics, Nakiska Ski Area (591-7777) near Kananakis Village is 15 min south of Hwy 1. Extensive snowmaking and slopes that are groomed nightly make the resort a favourite of the cruise and carve crowd. Slow skiing zones and self-contained beginner areas are family-friendly, while upper slopes offer moguls, steeps and glades for advanced skiers and riders. Legacy is a training run used by local ski teams. Two high-speed quads, triple and double chairs and a cable tow service the mountain. Passes are $49, $34 13-17, $15 6-12.

Stop at the base area daylodge for your Starbucks fix. The upstairs restaurant/bar has a fireplace, sports TV and welcomes kids. Another daylodge is mid-mountain. Ski Nakiska in the morning when the grooming is fresh, crowds are light, and the slopes are sun-saturated.

Thirty minutes south of Nakiska, Fortress Mountain (591-7108) opened this season under new ownership. Lift passes at $40, $30 stu, $20 13-18, $10 7-12, with big discounts mid-week, make skiing and riding here affordable. Fortress gets big snowfalls, especially in the spring. Two mountain faces are chairlift serviced, and a new Snowcat shuttle ($5) provides accesses to Farside slopes. Also new are a luge run and a 64-acre terrain park. There is limited dormitory and condo lodging.