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Calgary, AB creates incentive program for projects that convert downtown offices into residences
Calgary, AB Downtown Office Residence Incentive Program
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Calgary approved a $100 million CAD fund in 2021 as commercial space lay dormant during the pandemic. Fully financed projects qualify for grants of $75 CAD per square foot of converted space up to $10 million CAD. The city approved three projects in April 2022 that will add 401 units to the downtown area and eliminate 414,000 square feet of office space. City leaders expand housing stock, reinvigorate downtown activity, and manage commercial space supply with this program.
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