Where the corridor starts: a turquoise glacial lake under Victoria Glacier, and the last full-service town before 232 km of almost nothing.
Parking fills by 6–7am from late May to early October, often earlier on weekends. Once the lakeshore lot is full, it stays full — Parks Canada's Lake Louise shuttle (reserved seats, booked at parks.canada.ca, roughly C$12.75 adult plus a C$3.50 online booking fee) runs from the Park and Ride at the Lake Louise Ski Resort, or Roam Transit's Route 8X (about C$12.50, walk-up tickets available at the fare box if you don't book ahead) runs from Banff and Canmore. Don't plan on just driving up and finding a spot after 7am in peak season.
The lakeshore is about 4 km and 150 m of elevation above the highway junction and townsite below — it isn't visible from the parkway itself, and a lot of first-time visitors don't realize the "village" and the "lake" are two separate stops on the map, not one. If you're driving your own car and the lot isn't full yet, it's a short, well-signed climb from the village; otherwise it's the shuttle or Roam bus described above.
The flat lakeshore path (about 2 km round trip to the end and back) is the walk almost everyone does, and it's worth doing even if you've seen the photo a hundred times. Beyond that, three things draw people back for half a day or more:
The Fairmont Chateau Lake Louise is the large hotel building that anchors the lake's near shore — it's the town's main landmark from across the water, and its lobby, terrace, and washrooms are open to non-guests, which matters if you need a bathroom or a coffee between the lake and the trailheads.
The turquoise comes from glacial rock flour, fine sediment ground by Victoria Glacier and suspended in the meltwater — it shifts through the day as the light angle changes, and mornings before the wind picks up give the calmest reflection. The same glacial source keeps the lake cold enough (hovering a few degrees above freezing even in July) that swimming isn't a realistic option, whatever the postcard makes it look like.
This is also the last place to buy a Parks Canada day pass if you need one for the rest of the corridor (check the free-admission dates first — you may not), and the last full-service fuel/grocery stop before four hours of driving with almost nothing in between — see Driving Notes for both.