Calgary’s Office Conversion Initiative: Paving the Way for Downtown Revitalization with Incentive Programs

Calgary is transforming its downtown by converting vacant office spaces into homes, educational facilities, and hotels to address high vacancy rates. The Downtown Office Conversion program aims to remove 6 million square feet of vacant office space by 2031, with 11 projects planned to create over 1,400 residential units. Financial incentives support post-secondary institutions, demolition of outdated buildings, and the development of diverse spaces. These initiatives are expected to enhance the downtown's vibrancy, safety, and property values while attracting more residents and businesses.