Struggling to find an affordable inner-city apartment with a story to tell? The City of Calgary has approved five new projects that will actually convert old office spaces into brand-new homes for future downtown residents.
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Meant to address the amount of empty office space as well as Calgary’s growing population, the following buildings will be converted into homes for over 1,000 people.
- Taylor Building (805 8 Avenue SW) – Cressey Developments
- Petro Fina Building (736 8 Avenue SW) – People First Development Company
- Eau Claire Place I (525 3 Avenue SW) – Cidex Group of Companies
- Eau Claire Place II (521 3 Avenue SW) – Pacific Reach Properties
- The Loft (744 4 Avenue SW) – Institutional Mortgage Capital
A win-win for both the city and its residents, the Downtown Calgary Development Incentive Program launched in 2017 and is considered “one of Calgary’s biggest successes.”
“This program is ensuring that nestled in the centre of our city, Calgarians and visitors can discover welcoming neighbourhoods, unique businesses and active streets,”said Mayor Jyoti Gondek.
“The five office-to-residential conversion projects announced today will be key to supporting this vision as well as expanding the economic engine of the city.”
Unfortuanly, as of right now – these buildings to not have a completion date, but it’ll only be a matter of time.
Big things are happening in the City of Calgary, so buckle up and get excited! We can’t wait to see what the future holds.
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