The City of Calgary and its downtown partners must make the bold moves required to shift from vacancy to vibrancy. We are seeking an initial investment of $200 million in our downtown from Council on April 26 that will start this shift.
This initial investment of $200 million is focused on areas that will start to lower office vacancy, improve downtown vibrancy, and support the development of thriving neighbourhoods that attract residents, visitors, and talent for downtown’s businesses.
$45 million in financial incentives for office conversion, office replacement, and new residential development
$5 million in financial incentives to offset +15 Fund contributions for residential development, which has been a significant roadblock for residential development downtown
$55 million for impactful capital projects to improve public spaces, create vibrancy and support complete neighbourhoods
$5 million to activate downtown public spaces with festivals, events and community spaces to build vibrancy
$10 million over four years for a dedicated City of Calgary Downtown team
$80 million for Arts Commons Transformation Phase 1
This is just the beginning of our downtown’s long road to reinvention. The 10-year implementation of The Plan will require near-term and medium to long-term actions, along with a multi-pronged, multi-phased, and multi-stakeholder approach to reinvent Calgary’s downtown and begin the shift from vacancy to vibrancy. We need support of from all levels of government to reverse the course of our downtown.
We encourage you to virtually attend the April 26 City Council meeting to learn about Calgary’s Greater Downtown Plan and our initial financial investment in downtown’s road to reinvention.
Our best days are ahead of us. There is no easy fix, but we’ll come back stronger than ever with grit, determination, and collaboration to move the heart of Calgary along the road to reinvention.
Thank you,
Thom Mahler
Program Lead, Downtown Strategy
