Revitalizing downtown Calgary: New developments and office conversions

Hundreds of new apartment units will come to downtown Calgary over these next few years, at a time when rental prices are coming down in the city.

City officials have announced details of three new residential developments in Calgary’s downtown west end, as well as two more downtown buildings that will see vacant space repurposed into residential housing.

The city says the projects will add more than 1,100 new homes within two blocks, generating more than $350 million in private investment and transforming vacant and underutilized spaces into vibrant, connected communities.

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The new residential developments include:

• Cidex Development, located at 425 Fifth St. S.W., which will transform an underutilized site into a 234-unit residential community, opening in 2028;
• Cantiro 4th Ave Tower located at 410 Sixth St. S.W., a 30-storey mixed-use tower that will bring 315 premium rentals, to be completed by late 2027; and,
• 526 Fourth Ave. S.W., a 268-unit mixed-use residential tower set to open in 2028.

The buildings that will see office space converted to residential include:

• The HAT at Eau Claire Place, 525 Third Ave. S.W. A seven-storey building that will see 87 new rental homes created; and
• Eau Claire Residences, 521 Third Ave. S.W. A conversion of Eau Claire Place II which will introduce 195 premium rental homes. More than 330 residents can start moving in this summer.

Mayor Jyoti Gondek says the projects will transform the downtown west end.

“These developments are key to revitalizing Calgary’s downtown,” she said.

“Public investment in previously vacant areas in our downtown is spurring significant private investment, enhancing property values, generating tax revenue and boosting business opportunities.”

The projects are being completed through Calgary’s Downtown Development Incentive Program.

To learn more, you can visit the City of Calgary’s website.