This was re-started so for those that want to know more about it, follow the links.
Downtown Calgary Development Incentive Program offers funding to downtown property owners to help them convert empty office spaces into residential units, co-living developments, hotels, schools and performing arts centres.
Program Reopening
The program has re-launched for intake of new applications from September 19 to October 31, 2024. Once the application window is open, applications can be submitted online.
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City Supports and Incentives: Program Overview
• The Downtown Development Incentive Program re-opens on September 19, 2024, with $52.5 million in funding from the Federal Government’s Housing Accelerator Fund.
• The program focuses on converting vacant downtown office spaces into much-needed residential units, helping address Calgary’s housing needs.
• Eligible developers can receive up to $75 per square foot for conversion projects, with a maximum of $15 million per property. Additional funds may be granted with council approval.
• The program’s updated Terms of Reference were approved by City Council in July and applications will be accepted from September 19-October 31, 2024.
