Two new residential towers and an office conversion-to-residential project will soon be part of Calgary’s west end.
The city announced the new projects on as part of its downtown growth strategy, introduced four years ago to add residential units to under-used and empty office buildings, with the larger goal of replacing the tax dollars those empty buildings once poured into city coffers.
“In 2014, when we started to see the energy sector decline, we started to see people leaving downtown buildings and we saw headquarters leave downtown,” Mayor Jyoti Gondek said at a news conference Monday. “We suffered because property values went down, and when property values go down in the downtown, a significant revenue opportunity is lost to the city.”
Plans for the three west-end projects include a 234-unit residential building at 425 5 St. S.W. to be constructed by Cidex Development, scheduled to open in 2028; a 30-storey tower at 410 6 St. S.W. from Edmonton-based Cantiro Homes with 315 premium rental units, 10,000-sq.-ft. of commercial space and wellness facilities, scheduled to open in late 2027, and; a 268-unit mixed-use residential tower at 526 4 Ave. S.W., scheduled for completion in late 2028.
According to the city, “these projects will add more than 1,100 new homes within two blocks, generate over $350 million in private investment, and transform vacant and underutilized spaces.”
“I am excited to see the several transformative projects in the west-end of our downtown come to life. These developments are key to revitalizing Calgary’s downtown, driving economic growth,” said Gondek. “Public investment in previously vacant areas in our downtown is spurring significant private investment, enhancing property values, generating tax revenue and boosting business opportunities.”
“Cantiro’s expansion into Calgary marks an exciting milestone adding much needed housing to the growing west side,” said Paul Fereday, executive vice-president, Cantiro Multi Family. “With support from the City of Calgary’s development incentives, we are introducing thoughtfully designed residences, premium amenities and engaging commercial spaces.”
“Cidex is deeply humbled by the opportunity to partner with the City of Calgary on this transformational project,” said Sarah Itani, VP Development, Cidex.
Two new projects are also set to open in the Eau Claire area of downtown, including The Hat at 525 3 Ave. S.W., a seven-storey building with 87 rental homes and Eau Claire Residences at 521 3 Ave. S.W. with 195 premium rental homes, a rooftop patio, modern gym and in-suite laundry.