Downtown Calgary Development Incentive Program
Downtown Development Incentive Programs
The Downtown Development Incentive Programs are designed to support the revitalization of Calgary’s downtown core by encouraging the conversion of underused office space into residential units, post-secondary institutions, and other active uses, and by incentivizing the demolition of end-of-life office buildings.
These programs are part of The City of Calgary’s goal to remove six million square feet of office space from the downtown area by 2031, which will help to address the issue of oversupply and create a greater diversity of uses and more vibrant downtown. By supporting the repurposing of office space and incentivizing the removal of office buildings unsuitable for conversion, these programs will help to create a more dynamic and resilient downtown.
Incentive Programs
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(Revised – March 14, 2023)
Downtown Calgary Development Incentive Program
The revised Downtown Calgary Development Incentive Program supports office space conversions to residential units, hotels, schools and performing arts centres.
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Downtown Office Demolition Incentive Program
The Downtown Office Demolition Incentive Program supports the demolition of end of life office buildings that are unsuitable for office conversions.
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Downtown Post-Secondary Institution Incentive Program
The Downtown Post-Secondary Institution Incentive Program provides incentives for office space conversions to post-secondary institutions to establish a greater presence downtown.
Approved projects
The Cornerstone
909 5 Avenue S.W.
Developer: Peoplefirst Developments
Municipal investment: $7,800,000
Scope of conversion: ~104,000 sq. ft.
Total units created: 112
United Place
808 4 Avenue S.W.
Developer: United Canadian Investments Inc.
Municipal investment: $6,600,000
Scope of conversion: ~88,000 sq. ft.
Total units created: 81
Petro Fina Building
736 8 Avenue S.W.
Developer: PeopleFirst Developments
Municipal investment: $9,700,000
Scope of conversion: ~130,000 sq. ft.
Total units created: 105
The Loft
744 4 Avenue S.W.
Developer: Institutional Mortgage Capital
Municipal investment: $3,900,000
Scope of conversion: ~52,550 sq. ft.
Total units created: 55
Palliser One
125 9 Avenue S.E.
Developer: Aspen Properties
Municipal investment: ~$15,000,000
Scope of conversion: ~200,000 sq. ft.
Total units created: 176
Canadian Centre
833 4 Avenue S.W.
Developer: PBA Group of Companies
Municipal investment: $12,375,000
Scope of conversion: ~163,000 sq. ft.
Total units created: 225
Eau Claire Place I
525 3 Avenue S.W.
Developer: Cidex Group of Companies
Municipal investment: $6,000,000
Scope of conversion: ~79,400 sq. ft.
Total units created: 90
Teck Place
205 9 Avenue S.E.
Developer: Cidex Group of Companies
Municipal investment: $8,200,000
Scope of conversion: ~110,000 sq. ft.
Total units created: 113
Petro Chemical Building
805 8 Avenue S.W.
Developer: Cressey Developments
Municipal investment: $4,800,000
Scope of conversion: ~64,000 sq. ft.
Total units created: 85
Eau Claire Place II
521 3 Avenue S.W.
Developer: Pacific Reach Properties
Municipal investment: $11,900,000
Scope of conversion: ~52,550 sq. ft.
Total units created: 195
Have questions?
You can also submit an inquiry to the program team at downtownstrategy@calgary.ca.