Calgary, AB creates incentive program for projects that convert downtown offices into residences
Calgary, AB Downtown Office Residence Incentive Program
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.
Newsworthy
City announces first three downtown office-to-residential conversion projects approved for funding
The City of Calgary is pleased to announce the first three successful applicants to the Downtown Calgary Development Incentive Program. These three projects will infuse life into largely empty or underutilized office buildings by converting empty office space to new residential units. It’s one way we’re moving beyond the traditional 9 to 5 b...
Calgary - City announces first three downtown office-to-residential conversion projects approved for funding
The City of Calgary is pleased to announce the first three successful applicants to the Downtown Calgary Development Incentive Program. These three projects will infuse life into largely empty or unde. . .
More from Calgary
Related Projects
🚫 To join the discussion, sign up. It's free!