Why Downtown Office-to-Residential Conversions Are Opening New Opportunities in Calgary (2025)

Calgary is experiencing one of the most exciting urban transformations in the country. As office vacancies in the downtown core remain high and hybrid work continues, the City of Calgary has accelerated office-to-residential conversion projects — turning outdated office towers into modern, livable homes.

In 2025, these conversions are creating fresh buying opportunities, new rental inventory, and renewed interest in downtown living.

Why Calgary Is Converting Office Buildings

Downtown Calgary has faced years of elevated office vacancy, driven largely by shifts in the energy sector and the rise of hybrid work. Instead of letting older buildings sit underused, the city introduced incentives to encourage developers to repurpose office towers into residential spaces.

The result:
A faster, more affordable way to add much-needed housing while revitalizing the heart of the city.

1. More Affordable, Central Housing Options

Converted buildings bring new residential inventory to the market — often at prices lower than newly built downtown condos. This makes living in the core more attainable for:

• First-time buyers
• Students and young professionals
• Investors
• Downsizers wanting walkability

For many, it’s a chance to live centrally without the premium price tag.

2. Modern Interiors in Established Locations

Although the buildings themselves may be older, the units inside feel brand-new. Developers typically deliver:

• Open floor plans
• Updated kitchens and bathrooms
• Modern mechanical systems
• Energy-efficient upgrades

Residents enjoy stylish interiors with the convenience of a downtown address.

3. A Boost for Downtown Vibrancy

More people living downtown means more activity on the streets — supporting cafés, restaurants, retail, fitness studios, and entertainment spaces. These conversions help rebuild a lively urban core, making downtown Calgary more attractive to buyers and renters seeking a walkable lifestyle.

4. Strong Rental Demand and Investor Appeal

With Calgary’s population growth and low rental vacancy rates, newly converted buildings draw strong interest from renters. Investors appreciate:

• Reliable tenant demand
• Central locations
• Lower maintenance in newly renovated units

This makes office-to-residential conversions a compelling option in Calgary’s evolving real estate market.

5. Environmentally Sustainable Development

Repurposing existing structures is significantly more sustainable than demolishing and rebuilding. These conversions reduce construction waste and help Calgary move toward greener development practices.

The Bottom Line

Office-to-residential conversions are reshaping downtown Calgary by adding new homes, revitalizing the core, and offering buyers and investors attractive opportunities. As more projects move forward in 2025, this trend will continue to influence the city’s real estate landscape — making downtown a more vibrant and accessible place to live.

To learn more about what Calgary’s bustling real estate market has to offer, contact the Top Calgary Real Estate Team today!

Justin Warthe

Team Lead

403-620-8746

jw@topcalgaryrealestate.com