The Upper Hot Springs are up the hill from Banff, but near the Rimrock Hotel. There's a few hiking trails around the springs, but no significant points of interest. The Upper Hot Springs are a natural hot spring. It was the Cave and Basin that first put Banff on the map, but now the Upper Hot Springs are the only natural springs in the town. It is a great place to go and soak in summer or winter.
The Pleiades Spa is at the Upper Hot Springs. It is one of Banff's nicest spas, offering a wide range of massage and spa treatments. The prices are pretty competitive for what you'd pay in Banff. It does require a car to get up to the Upper Hot Springs, unless you're staying at the Rimrock, which has its own spa (it's also nice). It would be over an hour long walk to go up the hill from Banff Avenue to the Upper Hot Springs.
Down the hill from the Upper Hot Springs is Canada Place (actually, it's now called the Banff Administration Building) and the Cascades of Time Gardens. This building is one of Banff's heritage sites, and the grounds are open to the public. The Garden is one of Banff's nicest, but it's only open from June to September due to weather (it's a short growing season in Banff).
On the same side of the river as the Upper Hot Springs, you can find the Banff Springs Hotel, Bow Falls, the Buffalo Nations Luxton Museum, Cave and Basin, and the trails in Sundance Canyon. The area around the Banff Springs is great for wandering. You can find trails down to Bow Falls, or to tea houses, or to the golf course. The hotel itself is also worth checking out for it's history, galleries, shops, and restaurants.
Banff National Park of Canada
101 Mountain Ave
The Cascades of Time Garden and Park Administration Building... read more
Bow Falls Drive
An easy hike and a great spot for photographs...
The original hot springs in Banff... read more
Hike, bike, cross-country ski, snowshoe near Cave and Basin... read more
1 Birch Avenue
Glimpse of Native Canadian culture... read more
91 Banff Avenue
107 Tunnel Mountain Drive
World class music, theater and more in downtown...