About 40 minutes or so from Calgary, this is not a long or hard hike at all. It is pretty level (and short) but it is a really beautiful walk. The parking lot is at the junction of Lac des Arc exit off Highway #1. On the south side of the highway. You can park about a kilometer further east off the shoulder of the highway but at the parking lot are bathrooms and it is a nice walk the 800 meters to where the trail makes a turn to the south up the creek. There is a for real hike that goes around Heart Mountain but that is for a different day.
The walk-hike takes you over several bridges and on the way you are likely to see quite a number of rock climbers. More on the weekends. It is open enough that you can see up the cliffs and rocks and mountains as you are walking. It is not that far to the falls at the top end - a nice space for a picnic or to relax for a while. You can climb up onto a rock there (you'll see) to get a better look at the falls.
Numerous paths at the top that would take you in almost any direction that I deigned not to take.
We hung around for a while in the grotto - ate our lunch - it being a weekday was not terribly busy.
This is a great walk if you have smaller kids or are looking for an easy or short hike with some very nice scenery.
The 'clearing' at the end of the trail