The Town of Cochrane has recently received two applications for a new development called Greystone, located south and west of Griffin Road, north of the Bow River and east of River Avenue. 

The lands currently contain the Spray Lakes Sawmill, Burnco gravel pit, Spray Lake Sawmills Family Sports Centre and the Bow RiversEdge Campground. The Town requires that Area Structure Plans (ASP) and Neighbourhood Plans are both in place before development or redevelopment can occur.

Some of the lands within Greystone's ASP boundaries are not considering redevelopment at this time, however they are included in the ASP boundaries in order to plan out a comprehensive future community as they choose to redevelop. 

The lands that are proposed for redevelopment in the shorter term are described in the Neighbourhood Plan (current Burnco lands). The Neighbourhood Plan follows the higher level Area Structure Plan and provides further details surrounding the proposed redevelopment of the Burnco lands specifically.