The City of Calgary unveiled plans to add two more developments to its growing list of office conversion projects Monday. They will bring nearly 130 affordable housing units to the city’s downtown.
The City of Calgary unveiled plans to add two more developments to its growing list of office conversion projects Monday. They will bring nearly 130 affordable housing units to the city’s downtown.The audio version of this article is generated by AI-based technology.
Mispronunciations can occur. We are working with our partners to continually review and improve the results. Trellis Society is converting vacant office space in this building on 441 5th Ave. S.W. into affordable housing units. It's one of two recipients of the city's Downtown Non-Market Office Conversion Grant. The City of Calgary unveiled plans to add two more developments to its growing list of office conversion projects Monday, which will add nearly 130 affordable housing units downtown.The HomeSpace project, at 1000 8th Ave. S.W., is estimated to cost $27.5 million. It will receive $4.1 million from the fund to create 65 studio and one-bedroom units. Trellis’ conversion, which is a partnership with the Bluevale Capital Group, is located at 441 5th Ave. S.W., and will receive $6.2 million towards the $27.8 million project that will produce 63 units, ranging from studios to three-bedroom apartments.New home numbers hit record high in Calgary last year The projects will help the city move closer to a goal of delivering 3,000 non-market homes per year, said Mayor Jeromy Farkas, with nearly 100,000 square feet of empty office space being converted into 128 non-market homes. “Housing affordability is one of the biggest challenges facing our city and solving it requires speed, creativity and strong partnerships,” Farkas said. “We need to build housing at speed and scale because everyone deserves a safe and affordable place to live.”The HomeSpace conversion project is located at 1000 8th Ave. S.W. and will create 65 studio and one-bedroom units. Jeff Dyer, chief executive officer of Trellis, said that young people and families are often those in greatest need of affordable housing, and safe housing can be a stepping stone to building stronger communities. “Without stable housing, everything else becomes harder,” Dyer said. “This investment allows us to respond to real community need while helping ensure our downtown remains inclusive and vibrant.” Dyer added that with the grant, Trellis has secured $11 million for the project and is hoping funding from the provincial government and income-tested rent will help cover the remaining costs.in Canada, sitting at 30.4 per cent in the fourth quarter of 2025, according to real estate firm CBRE Canada. Despite this, CBRE found Calgary leads the country in total space converted and accounts for almost half of all vacant office spaces removed from the Canadian market between 2021 and 2025.Roughly 28,000 homes came online in Calgary last year, including many affordable units. But as CBC's Brendan Coulter reports, developers say they need more certainty around housing policy to keep the momentum going. The city also saw more than 1,800 development permit approvals for non-market homes — roughly five times the average annual volume, said Reid Hendry, the city’s chief housing officer.“This has been a dedicated exercise in capacity building through capital programs, through priority streams on the planning side, through understanding different business models of different non-profits different market developers,” he said.its contentious blanket rezoning policy, the Canada Mortgage and Housing Corporation — the agency responsible for distributing the Housing Accelerator Fund money — has warned changes could put new funding at risk. $129M in housing funding 'at risk' as Calgary begins rezoning repeal process, housing corporation warnsHendry said the city’s infrastructure and planning committee has a report coming this Wednesday detailing the potential consequences of repealing the policy. “It is a potential risk,” Hendry said, adding that as of right now the city is in full compliance with the terms of the funding agreement. Farkas said Monday that CMHC has assured the city the funding is not on pause, and discussions are underway to ensure any changes to the rezoning policy would not violate the agreement. Kelsea Arnett is a reporter with CBC Calgary and part of the 2025 CBC News Summer Scholarship cohort. She worked as a researcher for CBC during the 2023 Alberta provincial election and previously worked as a reporter for the Globe and Mail. You can reach her at kelsea.arnett@cbc.ca.Rents down in Calgary but demand for non-market housing still strong
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