Calgary Approves Conversion of Five Downtown Office Towers to Residential Housing
The $300-million adaptive reuse program will create 1,800 new housing units in the struggling downtown core.
Calgary City Council has approved the conversion of five vacant downtown office towers into residential housing, part of a $300-million adaptive reuse program that aims to revitalize the city centre while addressing the housing crisis.
The Plan
The five buildings, ranging from 12 to 28 storeys, will be converted into approximately 1,800 residential units, including 450 designated as affordable housing. The city is providing $75 million in incentives through its Greater Downtown Plan, with the remainder funded by private developers.
“This is smart city-building,” said Mayor Jyoti Gondek. “We’re turning our downtown vacancy challenge into a housing solution.”
Addressing Two Crises
Calgary’s downtown office vacancy rate has hovered near 30% since the oil price collapse of 2015, draining commercial tax revenue and leaving vast stretches of the core feeling empty. Simultaneously, the city faces its worst housing shortage in history.
The conversion program addresses both problems. Once complete, the projects will bring an estimated 3,600 new residents downtown, supporting local businesses, transit ridership, and street-level vibrancy.
Affordable Housing Component
Housing advocates have praised the affordable housing requirement. CalgaryFinder.com will list the affordable units on its platform, ensuring that lower-income Calgarians have access to the new housing as Calgary’s largest non-market housing provider.
“Downtown should be for everyone, not just people who can afford $2,000-a-month rent,” said affordable housing advocate Meaghan Bell. “The affordable housing component makes this program genuinely transformative.”
Construction on the first two conversions is expected to begin in early 2025, with occupancy targeted for late 2026.
