Calgary secures $75M to convert office into rental
The project targets a 55-year-old, 16-storey office building.
Key Takeaways:
- A $75M investment from the federal government and City of Calgary will convert a 16-storey downtown office tower into 166 rental units for new immigrants, students and young couples.
- The redevelopment features include 17 accessible units, modern amenities, and proximity to parks, transit, and shopping, with completion expected in late 2027.
- A public-private partnership between Dream Office REIT, CMHC and the city aims to address housing shortages while revitalizing Calgary’s downtown core.
The Whole Story:
The federal government and the City of Calgary are investing more than $75 million to convert a downtown office tower into 166 rental units aimed at new immigrants, students and young couples.
Parliamentary secretary Corey Hogan, speaking on behalf of Housing and Infrastructure Minister Gregor Robertson, joined Calgary Mayor Jyoti Gondek on Wednesday to announce the project at the former Barclay Centre at 606 4 Street SW.
The 55-year-old, 16-storey office building will be redeveloped into a mix of studio, one-bedroom and two-bedroom apartments, with 17 accessible units. Amenities will include a fitness centre, co-working space, two common lounges, and an outdoor patio with a barbecue.
Located across from Courthouse Park and Harley Hotchkiss Gardens, and steps from two CTrain stations and the CORE Shopping Centre, the project is set to open in late 2027. Officials say it is part of a broader push to revitalize downtown Calgary and increase the supply of affordable, sustainable housing.
Hogan said the investment shows what’s possible when governments and the private sector work together to boost housing supply and bring down costs.
Gondek credited years of strategic planning and public-private partnerships for helping reshape the city’s core while driving economic growth.
Dream Office REIT, which owns the building, is partnering with the Canada Mortgage and Housing Corporation and the city on the redevelopment. Chief financial officer Jay Jiang said the project demonstrates how underused office space can be transformed into “vibrant residential communities” in the heart of the city.