The Town of Canmore is again being urged to look at a rezoning proposal that would make already built hotel condo units easier to finance for new purchasers.
The proposal is being spearheaded by local developer Devonian Properties.
The existing zoning limits residential stays to 28 consecutive days.
As a result, banks treat the units as commercial properties for mortgage purposes, and have been reluctant to lend on them the way they do with residentially zoned vacation properties, according to Devonian.
An earlier submission for a wholesale zoning change in the resort town was rejected by Canmore council, however.
–- Compiled by Dave Husdal
from Western Investor, March 2011
