The City of Calgary has announced the latest steps in its plan to address the city’s housing crisis while revitalizing some vacant downtown office space.
The plan includes the construction of three new residential developments and the conversion of two under-used office buildings to residential units.
At a Monday morning news conference, Mayor Jyoti Gondek said the projects will add 1,100 new homes, help revitalize Calgary’s downtown and generate more than $350 million in private investment.
The city contributed $20 million to the projects under its Downtown Development Incentive Program.
The City of Calgary said the conversion of two vacant office buildings to residential units combined with three new residential developments will add 1,100 new housing units in downtown Calgary.
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The new residential developments include:
- Cidex Development at 425 5 St. S.W., which will be a 234-unit residential community opening in 2028.
- Cantiro 4th Ave Tower a 410 6 St. S.W., which will be a 30-storey mixed-use tower with 315 premium rental units and 10,000 square feet of commercial space opening in late 2027.
- Mixed-use tower at 526 4 Ave. S.W. that will include 268 residential units opening in 2028.
The two office-to-residential conversions are:
- The HAT at Eau Claire Place at 525 3 Ave. S.W., a seven-storey upscale residential building with 87 new rental homes that is now open to residents.
- Eau Claire Residences at 521 3 Ave. S.W., a 330-rental unit development, including 195 premium rental units that will open this summer.
The City of Calgary says the conversion of two vacant office towers to residential use will add more than 400 housing units in downtown Calgary.
Global Calgary
“We all know that the 2014 oil crash left its mark on our downtown. Vacancy rates soared, buildings sat empty and we faced a choice: accept decline or take bold action,” Gondek said.
“For the past few years, we’ve been driving a major shift, turning our downtown from a 9-to-5 central business destination to a district that is lively 24 hours a day, seven days a week, a destination where people work and thrive — and today, we’re seeing that vision come to life.”
The city estimates three more projects are expected to be completed in 2027 and 2028 — turning vacant office space into an additional 800 housing units.
More information about the Downtown Development Incentive Program is at calgary.ca/DTS.
