New Developments in Canmore

Canmore new developments are, for the first time in a generation, a real category rather than a rumour. Three Sisters Village. The first phase of the largest development lands left in the Bow Valley, moved from plans to development permits in 2026; Spring Creek and Silvertip both have new buildings approved or under construction; and a run of smaller rental, townhouse and visitor-accommodation projects cleared the Town in the same year. This page lists what is approved, under review and building as of August 2026, and explains how pre-construction buying works here: deposits, GST, warranty and assignments.

Three Sisters Mountain Village, the largest of Canmore’s new developments

Full build-out (two ASPs)

≈ 7,000 homes

up to 15,000 people on 300+ ha over decades

Three Sisters Village Phase 1

700–1,075 units

29.1 ha; conceptual scheme approved 23 April 2024

Rental units planned, Phase 1

400+

tsmv.ca, May 2026

Affordable housing

10% minimum

up to 20% with density bonusing; 50+ units proposed at permit stage

Development permits approved 2026

343 units

94 stacked townhomes + 249 apartments; 76 more under review

Smith Creek Phase 1

≈ 53 acres

conceptual scheme approved 7 October 2025; awaiting subdivision

Three Sisters Mountain Village is the umbrella for two approved Area Structure Plans, Three Sisters Village and Smith Creek, covering the undeveloped lands south-east of the existing Three Sisters neighbourhood. Together they allow up to roughly 7,000 homes and 15,000 residents, built out over decades, with a village centre, hotel district and innovation district in later phases, the history, including the years of dispute over wildlife corridors and undermining, is on the Three Sisters Village, Canmore neighbourhood page.

Three Sisters Village Phase 1

Phase 1 sits on 29.1 hectares in the north-east of the plan area, closest to the existing neighbourhood and the highway, and is planned as townhomes, stacked townhomes, apartment buildings and tourist homes with open space and more than 400 rental units. As of August 2026 the Town’s planning register shows:

The first market product is Alder & Stone, a collection of more than 230 one- to three-bedroom stacked and row townhomes by a local Canmore builder, designed for full-time living and open for pre-sale registration in 2026 with a refundable reservation deposit. A wildlife underpass beneath the Trans-Canada Highway is planned alongside the first construction: Alberta committed $15 million to it in Budget 2023, and as of October 2025 the developer expected construction to get under way in 2026, with the neighbouring Smith Creek lands unable to start until the underpass is finished (CBC). Realistic first occupancies are 2027–2028 by building; the developer’s May 2026 update gives progress rather than move-in dates, so get any date in writing from the builder.

Phase 1 is also one of the few places where new tourist-home units can still appear, because tourist-home use is written into its district rules, the 2025 town-wide amendment removed the use elsewhere. If nightly rental matters to you, confirm the designation of the specific building before you reserve.

Smith Creek

Smith Creek is the second ASP, further south-east. Its Phase 1 conceptual scheme, about 53.34 acres, was approved by Council on 7 October 2025 and is awaiting a subdivision application; the developer says the first-phase land will enable up to 26 units of affordable housing. No market homes are for sale there yet, and none should be expected before the Village’s first phase is well under way.

Spring Creek phases

Spring Creek, the master-planned community between Policeman’s Creek and Spring Creek a short walk from Main Street, has been building out since the mid-2000s and was Canada’s first BUILT GREEN® Platinum certified community. The next building, one apartment building with 112 residential units and a commercial unit at 1800 Spring Creek Gate (Block 6, Lot 4), was approved by the Town in 2026, with the appeal deadline passing on 11 August 2026. Spring Creek’s buildings are a mix of residential and, along some streets, tourist-home designations; check the specific building. The community’s long-term plan runs to roughly 1,050 condo and townhouse units plus hotels and commercial space. The developer has not published a current phase-by-phase schedule, so treat the remaining count as a plan rather than a delivery date.

Silvertip

Silvertip is running three new developments at once. Mountain Tranquility offers freehold single-family homesites and pre-designed villas on the sunny north side; the Villas at Silvertip broke ground in November 2024 with first completions expected in 2026; and Cadence Pond. A 70-unit, four-storey building beside the sixth hole, approved by the Town on 29 May 2026 as 300 Mountain Tranquility Gate, broke ground in August 2026 and is marketed as tourist-accommodation zoned, which would make it a rare new building eligible for nightly rental. Do not take that from the marketing: ask to see the development permit and the Town’s designation for the specific unit before you put money down. Separately, the resort’s proposed gondola to Mount Lady Macdonald entered review under Alberta’s All-Season Resorts Act, with public engagement from 11 March to 14 May 2026; most of its footprint lies in provincial park and the proposal is contested locally. It is not a reason to buy or not buy in Silvertip today.

Other Canmore new developments approved or under review in 2026

The Town’s major planning applications page is the primary source for Canmore new developments and updates as decisions are made. Several of these projects carry ground-floor commercial space, and the Canmore commercial real estate page covers how that side of the market works.

How to buy pre-construction in Canmore

Most of the new Canmore condos for sale in 2026 are pre-construction rather than move-in ready. The mechanics below apply to all the Canmore new developments on this page, whatever the developer’s brochure says.

1. 1Register, then read the disclosureProjects launch by priority registration. When the purchase documents arrive, have an Alberta real estate lawyer read the agreement, the proposed condo bylaws, the budget and the disclosure before you sign anything binding.
2. 2Understand the deposit structureTypically an initial deposit on signing followed by staged instalments through construction, held in trust. Amounts and timing are set per project, confirm them, and confirm what happens to the deposit if the project is delayed or cancelled.
3. 3Check zoning and tourist-home statusResidential or tourist home, for this building, on the Town’s permit. It changes the tax class, the financing and the price.
4. 4Arrange financing that survives a two-year waitA pre-approval today does not bind a lender in 2028. Ask a licensed mortgage broker about rate holds and what re-qualification at completion will look like.
5. 5Budget GST, levies and closing5% GST on top of the price unless the agreement says otherwise; the first-time buyer rebate if you qualify; Land Titles fees, legal fees and any interim-occupancy charges.
6. 6Pre-delivery inspection and warrantyWalk through with a list before possession. Alberta requires new home warranty of 1 year on labour and materials, 2 on delivery systems, 5 on the building envelope and 10 on structure, from a licensed builder.

GST, deposits and assignments

GST. Canmore new homes carry 5% GST, usually in addition to the advertised price. First-time buyers who entered a builder agreement on or after 20 March 2025 can claim the federal first-time home buyers’ GST rebate, 100% of the GST on a new home up to $1 million, phased out between $1 million and $1.5 million, worth up to $50,000, under Bill C-4, which received Royal Assent on 13 March 2026. A $1.25 million home, for example, qualifies for half the maximum. Repeat buyers pay the full 5%; the old new-housing rebate phases out far below Canmore prices. GST on new construction in Canmore has the worked examples.

Deposits. Structures are set by each developer’s purchase agreement, typically staged through the build and held in trust as Alberta’s condominium rules require. On a new unit bought from a developer, the Condominium Property Act gives you 10 days from signing to cancel the purchase agreement, and if you did not receive all the required disclosure documents before signing, that 10 days runs from the day you do receive them. Read the agreement for the developer’s rights to extend completion, change specifications and cancel.

Assignments. Selling your contract before completion is possible only if the agreement permits it, generally with developer consent and a fee. Since 7 May 2022 every assignment sale of new housing in Canada is subject to GST on the assignment amount, and CRA generally treats assignment profit as business income. Plan to close, not to flip.

Warranty and builder licensing. Alberta requires a licensed builder and 1-2-5-10 warranty coverage on every new home; the provincial public registry shows the builder’s licence and warranty provider.

What this means if you’re buying

The Canmore new developments on this page give 2026 buyers the first real choice in years: Three Sisters Village townhomes and apartments for full-time living and rental, a Spring Creek building near downtown, and Silvertip villas and a tourist-accommodation building on the sunny side. Treat every project the same way: lawyer-reviewed agreement, zoning confirmed against the Town’s permit, deposit structure understood, GST and rebate calculated, financing that survives the wait. Register for the projects you like, then bring the documents to a local before you sign.