A group of Canmore residents is holding a meeting Friday night to convince other locals of the mountain town west of Calgary that the latest development plan for Three Sisters Mountain Village is on the wrong track.  

Part of the project has been in receivership since 2009, when the half-finished development was $115 million in debt.

Now creditor PricewaterhouseCoopers Canada (PWC) is proposing a new area structure plan that would allow for two new hotels and more than 2,500 residential units.

But according to resident Gary Anderson, PWC plans to build on areas that were previously designated only for golf courses because they sit on top of old coal mining tunnels and could potentially lead to dangerous sink holes.

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Gary Anderson is worried about PWC's plan to restart development of the Three Sisters Mountain Village. (CBC)

"If they did build out on these dangerous areas and a home sank, just one, just imagine what that would do to the value of all of our homes," he said.

He pointed out there is already a sinkhole on a pathway near Dyrgas Gate in the Three Sisters area.

According to conservationist Karsten Heuer, PWC’s plan is bad from an environmental perspective.

"Those slopes are also the last best low-elevation route for wildlife moving from Banff National Park into Kananaskis Country."

Anderson said he and his neighbours are not trying to keep other people out of the village.

"We've understood that there's going to be development that takes place. Everyone in Canmore understands that. It's just where that development takes place."  

Friday’s meeting, which starts at 7 p.m., comes before an official hearing on the issue at town council on May 15.