Calgary has successfully converted underused office towers to residential housing through its unique incentive program for developers. The program has resulted in the approval of 13 conversion projects, with more underway. The first project, a $38-million conversion of a 10-storey office building, is almost complete.
Construction workers inside the Barron Building as crews convert it from office space to residential apartments in Calgary , on Dec. 12, 2023. No community anywhere would willingly choose to have a nearly 30 per cent office vacancy rate in its downtown core. But faced with that problem, one Canadian city came up with a plan that is now being held up as a model for the rest of the country amid an ongoing national housing crisis .
Calgary has been busily working to convert underused office towers to residential housing, thanks to the city’s one-of-a-kind incentive program for developers. In just two years, the program has resulted in the approval of 13 office-to-residential conversion projects, with four more still under review. The first project, the $38-million conversion of an underused 10-storey office building into 112 residential apartment units, is nearly complete and expected to open early this year. Several more projects are currently under constructio
Calgary Office-To-Residential Conversion Housing Crisis Incentive Program Developers Underused Office Towers
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