08/26/2026
Why Calgary AB Conversions Still Work
As someone who lives and works in Inner City Calgary, I've seen firsthand how our city is leading the way on office-to-residential conversions. In the past five years, Calgary has accounted for about 40% of all such projects, a direct response to our downtown office vacancy challenges. The city's grant—$75 per square foot at completion—has made these projects viable, especially when the initial purchase price is between $50 and $100 per square foot. Even with construction costs at $300–$400 per square foot, Calgary's recent commitment of an extra $25 million is taking things further, with new incentives now focusing on hotels as well. What really stands out to me is the community’s involvement: for every $1 in grant funding, there’s $4 in private investment, fueled by Calgary’s population growth and the ongoing demand for housing. Looking ahead, the best opportunities seem to be with older B and C office buildings, especially if they come with reusable systems and faster project timelines. As a residential realtor passionate about the Calgary lifestyle, I’m excited to see how these conversions continue to shape our city’s future.
