Calgary is making big moves to tackle its housing needs while breathing new life into its downtown core. The city just approved 10 new office-to-residential conversion projects, which will bring 1,100 new homes and an estimated 2,000 new residents into the heart of the city.
This latest round of development is part of Calgary’s broader effort to turn underused office space into much-needed housing, an approach that’s starting to show real results.
$80M in Public Funding Is Unlocking Over $350M in Private Investment
The City of Calgary is committing $80 million in funding to support these projects, with a significant portion coming from the federal Housing Accelerator Fund. In return, the city is seeing more than $350 million in private sector investment being poured into downtown development.
This public-private collaboration isn’t just filling empty buildings, it’s creating new housing options, boosting foot traffic, and giving downtown Calgary a renewed sense of energy and purpose.
More People Living Downtown Means a Stronger Core
With more people living in the core, the benefits ripple out. Local businesses see more activity, streets feel safer, and Calgary’s downtown starts to feel less like a ghost town after work hours and more like a real neighborhood.
Fewer empty towers and more lived-in space is the kind of practical urban planning that addresses both housing demand and downtown revitalization at the same time.
Is It the Ultimate Fix? No, But It’s a Smart Start
This won’t solve the housing crisis overnight. But using existing infrastructure to create homes people actually need is a cost-effective and scalable way to add density without sprawl.
By focusing on repurposing instead of tearing down or building new from scratch, Calgary is reducing environmental impact, saving money, and speeding up the housing development timeline.
What’s Next?
Calgary’s Downtown Development Incentive Program has already seen success with previous conversion projects, and the city plans to keep the momentum going. As more towers transition from vacant to vibrant, the city is hoping this model can inspire similar strategies in other Canadian urban centers.
References
- City of Calgary. (2024). Downtown Calgary Development Incentive Program.
https://www.calgary.ca/development/downtown-incentive.html - Government of Canada. Housing Accelerator Fund.
https://www.cmhc-schl.gc.ca/en/professionals/project-funding-and-mortgage-financing/funding-programs/all-funding-programs/housing-accelerator-fund - CBC News. (2024, April 4). Calgary adds more downtown office conversions in bid to revitalize core.
https://www.cbc.ca/news/canada/calgary/downtown-office-conversion-program-1.7162571
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