Golden Life Living has broken ground on it's latest seniors' housing development 'Grande Avenue Village', located on Railway Street, just east of the Cochrane Public Library.
The complex will feature around 87 units, a fitness facility, a crafts room and a pub.
MP Blake Richards for Banff-Airdrie, says the space will be a great addition to the community.
"When you think about how important the role that seniors play in this community this is really big," he says. "It's nice to see this kind of opportunity being provided, to have the best quality housing that's possible. That's something that's really important to me, affordable, quality housing for seniors. We're so pleased to have this come into the community."
For the first time in history, there are more Canadians over the age of 65 than there are children under the age of 15.
"With demographics continuing to shift, seniors' housing is becoming more and more important. Our seniors are our most dedicated volunteers, our biggest charitable givers, and they've built this community to what it is today."
Cochrane Mayor Ivan Brooker agrees, adding there's a high demand for seniors' housing in town.
"This is a big need, we all know that," he explains. "We have a few projects, I'm super thankful this is the first one that's going in."
Brooker thinks the central location of the seniors' home can't be beat.
"I think this location is second to none for seniors, the location where you can walk to shopping, walk to movies, walk to the library, I don't think it gets any better."
Construction is set to finish the Summer of 2017.