An additional new parkade has been considered, most recently during budget discussions in November 2014; however, council decided to move the decision to build a new parkade to a vote of the electorate when the parking shortfall in Town reaches a deficit of 150 stalls or during the next municipal election in 2017. Preliminary pricing was around $70,000/stall in 2014 for an elevated parking structure, and initial designs of a 240 stall parkade for Banff came in around $18.4 million. The potential sites included Wolf St (near Bow Ave intersection), Beaver Street North (the Fire Hall lot) and Beaver Street South (Mount Royal lot). However, with an estimated 10 year parking shortfall of 350 stalls (and an estimated 20 year parking shortfall of 500 stalls) a new parkade would quickly become a short term solution with long-term financial implications.
From 2014 to 2018 parking stall peak time shortfall in Zones A, B, C (downtown core) has not exceeded 80.