Calgary is converting underused downtown office space into residential units through a city incentive program.
Grants up to $75/sq ft and streamlined policies are encouraging developers to act quickly.
Over 2,600 homes are already planned or under construction, with more expected in 2026-2027.
Investor interest, especially from Toronto, is driving faster conversions than traditional ground-up construction.
The program is forecast to stabilize office vacancies, boost property values, and expand downtown housing supply in 2026.
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