March 27, 2023 | NAIOP Calgary
Expansion of Downtown Calgary Development Incentive Progrm
Expansion of The City of Calgary’s downtown development incentive programs.
Next week, these programs are re-opening for new applications from downtown building owners who would like to convert empty office space to other uses that contribute to downtown vibrancy and quality of life for Calgary’s downtown communities.
The Downtown Development Incentive Programs are as follows:
- “Revised” Downtown Calgary Development Incentive Program includes conversion projects for residential units, hotels, schools and performing arts spaces. These new conversion categories will encourage a more diverse mix of amenities and services downtown that will make downtown more attractive to live in and visit.
- The Downtown Post-Secondary Institution Incentive Program provides financial incentives for post-secondary institutions to establish a greater presence downtown. This would bring an influx of students downtown, which would support downtown’s vibrancy during all hours of the day, support existing businesses and would encourage new businesses to be established.
- The Downtown Office Demolition Incentive Program incentivizes the demolition of buildings that are deemed ‘end-of-life’ and are not suitable for conversion or reuse. The program will support non-office redevelopment and the creation of new public amenity space.