Calgary office conversion program reopens with $25M
The city is accepting applications until July 27 to convert underused downtown office space into housing and other uses.
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Calgary is reopening its downtown office conversion program with $25 million in funding and new flexibility to meet changing market demand.
Applications are being accepted until July 27, 2026. The program's incentive rate for hotel conversions has increased from $60 to $75 per square foot. There's also a new competitive bid process for student and senior housing, co-living models, and educational institutions.
"Five years into a ten-year plan, we're nearly halfway to our goal of removing 6 million square feet of downtown office space," said Thom Mahler, director of downtown strategy. "These updates build on that success and create new opportunities to transform underused office space into vibrant places for people to live, work and visit."
Council had debated cutting funding for the program during the 2026 budget adjustment but ultimately rejected that motion. The funding was reduced from $40 million to $35 million, with $10 million set aside for a non-market conversion program. The remaining $25 million is available in this round.
The changes reflect input from Calgary Economic Development's Real Estate Sector Advisory Committee, which noted that conversions are bringing more people and activity downtown while supporting tax base growth.