Calgary’s Downtown Conversion Program Milestone: First Office-to-Hotel Project Completed, Offering Key Insights for Future Redevelopment

Calgary’s Downtown Development Incentive Program has advanced with the opening of the Element Calgary Downtown, the city's first office-to-hotel conversion. Launched in 2021 to address nearly 30% office vacancy, the program offers grants up to $75/ft² for conversions to residential, hotel, or mixed-use spaces. So far, 21 projects totaling 2.7 million ft² are approved, including over 2,600 new homes and institutional uses. The program continues accepting applications to revitalize downtown.