08/25/2026
Why Calgary AB Conversions Still Work | www.perfecthomes.ca
Calgary continues to lead the way in office-to-residential conversions, now accounting for about 40% of this activity nationwide over the past five years. These conversions have been a creative response to ongoing downtown office vacancy — something many local property owners and buyers keep a close eye on. The city’s grant program, offering $75 per square foot at completion, has been a real game-changer, especially considering that purchase prices for these buildings range from $50 to $100 per square foot before construction. Even with construction costs of roughly $300–$400 per square foot, the recent additional $25 million in city funding is making these projects more accessible, with new incentives now targeting hotels as well. It’s also encouraging to see that for every $1 of public grant, $4 of private investment is coming in, fueled by Calgary’s population growth and intensifying housing demand. For clients interested in opportunities like these, older B and C class office buildings with reusable systems and faster timelines offer the clearest potential for successful conversion. As always, I keep a close watch on these trends to help you navigate Calgary’s evolving real estate landscape — whether you’re looking for your next home or an investment that fits your needs.
