Start at the intersection of Franklin Avenue and 53rd Street. Then walk along Franklin Avenue to 54th Street and end at Matonabee Street. There is something different about the traffics lights at the three intersections so take a good look around based on the clues below.
53rd Street and Franklin Avenue - there are 2 of these (or a "double" as per Violav's comment)
54th Street and Franklin Avenue - there are none of these
Matonabee Street and Franklin Avenue - there is one of these
If you can figure out what "these" are, you can walk right up to the cache.
This is a homemade cache. It is slim so fits in narrow spaces. There is NO ROOM FOR SWAG. It is one-sided so the log (in a slim baggie) is exposed to the elements. Not sure how it will fare in the great outdoors though its location offers a fair bit of protection. It can only face one way (not so much a clue, just a note when putting it back). It would not hold up in the bush.
SPOILER ALERT: the hint will tell you exactly where to look. Take a walk to look at all three intersections and do some thinking before you check the hint!
This cache is dedicated to Caper89 who is an engineer at the City of Yellowknife (one of the people who looks after the traffic lights) and a newbie in the world of geocaching (summer 2015).