A new incentive program in Calgary aims to boost the number of people living downtown, the city says. The downtown density bonusing offset program aims to reduce the cost of construction and encourage new high-density developments in the downtown core, officials said. The plan will help create more than 1,500 new homes in the city. “With the explosive growth we are seeing here, it’s clear that Calgary needs to build more homes,” Mayor Jyoti Gondek said in a news release. “Building homes downtown ensures we’re meeting demand, boosting affordability, providing options for Calgarians, and creating a more connected and livable city for everyone.” Density bonusing involves developers who are willing to develop more downtown housing in exchange for their own investments in city infrastructure such as parks, public art, community investment fund contributions and affordable housing. Officials say downtown neighbourhoods are growing quickly as more Calgarians embrace the urban lifestyle, so the program is excellent for developers. “This program is an incredible opportunity to build high-density development that fits the area, benefits the entire city and creates homes with easy access to jobs, transit, arts, culture and exciting public amenities,” said Thom Mahler, Calgary’s director of downtown strategy. The program is open for applications starting June 1.
