3 downtown Calgary buildings to be knocked down make room for affordable housing

Three downtown Calgary buildings that have been vacant for several years, will be brought down and replaced with at 33-storey mixed-use tower. Officials say the new development will have at least 50 affordable living units.

The City of Calgary has moved ahead with a plan to demolish three downtown buildings to make way for some much-needed affordable housing.

Officials say the buildings slated for the chopping block are on the south side of Fourth Avenue S.W. between Fifth and Sixth Street.

All three are vacant and have been boarded up for several years.

Edmonton-based Cantiro Group will be overseeing the redevelopment of the properties. It will be the company's second project in Calgary and first under the city's demolition incentive program.

That program was rolled out in April 2023 and only applies to buildings deemed "end of life."

"This type of project is going to increase access to housing," Calgary Mayor Jyoti Gondek said on Tuesday.

"It is going to increase the number of amenities available to people who presently and in the future will live in the downtown and that's really addressing some of the concerns that people have."

Cantiro plans to build a 33-storey mixed-use tower that will consist of approximately 340 rental housing units, including at least 50 affordable housing units.

It will also have retail space to support several commercial uses.

The demolition incentive program provides a grant of 50 per cent of demolition costs not exceeding $15 per square foot based on the original size of the office area.

An additional $5 per square foot is provided for projects needing to deal with asbestos or other hazardous materials.