In downtown Calgary, some office buildings are empty.
To make Calgary’s downtown look more vibrant, the City of Calgary has recently launched the Downtown Calgary Development Incentive Program.
What are the goals of the Downtown Calgary Development Incentive Program?
- Converting vacant office spaces to an alternate use.
- Supporting vibrant downtown communities
- Helping prevent property tax burdens to properties outside the Downtown Core
What does this program include?
- An initial $45 million in funding for downtown office building owners who are interested in converting office space to an alternate use.
- The initial phase of the program, from August to December 2021, will focus on office to residential conversion, with a priority placed on the Downtown Core.
More information: City launches downtown development incentive program (calgary.ca)