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Calgary converts 11 office towers into homes to combat downtown vacancy, investing over $200 million.
Calgary’s initiative to convert vacant office towers into residential buildings aims to revitalize the downtown area, which has faced high vacancy rates due to economic downturns and the pandemic.
Approved for 11 projects with six more planned this year, the city has committed over $200 million.
While seen as a positive step, commercial real estate experts argue it won't fully solve the issue.
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Calgary convierte 11 torres de oficinas en casas para combatir la vacante en el centro, invirtiendo más de $200 millones.