CALGARY, ALTA. – Two previously announced and one new office-to-residential conversion project are being highlighted by the City of Calgary as part of its downtown revitalization effort.
Alston Properties and Slate Asset Management’s Dominion Centre housing project will receive funding through the City of Calgary’s office-to-residential conversion program and its Downtown Retrofit Challenge. The project will create 132 new homes and 25 per cent of the units will be rented at affordable rates, a City of Calgary release stated.
Located adjacent to Century Gardens and the CTrain line, Dominion Centre will convert just under 100,000 square feet of office space into 132 homes over 10 floors. A minimum of 25 per cent of rental homes will be rented at affordable rates.
“Calgary’s office conversion programs remain one of our greatest successes and have become internationally recognized as the template for creating new homes in existing downtown office buildings. It’s exciting to announce three projects today that are tackling office conversions in different ways – through climate resilient initiatives, by building much needed long-stay hotel rooms, and accelerating housing delivery,” Calgary Mayor Jyoti Gondek said in the release.
The second phase of Aspen Properties’ Palliser One office-to-residential housing project has also been approved for funding under the office-to-residential conversion program and will more than double its housing delivery by adding 395 homes to downtown Calgary.
The PBA Group of Companies’ project at 833 4 Avenue S.W. was originally approved as an office-to-residential conversion but has been revised as a hotel conversion. The approved project will convert the existing office building to a long-stay hotel offering 226 suites.