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As Calgary’s office conversion program reopens, initial projects remain under construction
Oct 29, 2024
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Calgary's office conversion program is reopening, with initial projects still under construction. The Cornerstone, a 112-suite building, is complete, while ten more projects are in progress. The city is using federal funding to support the program, which aims to revitalize downtown by converting office spaces into housing. Experts express cautious optimism, noting that while the program has not yet proven successful, it poses no financial risk to the city. Increased construction costs and unforeseen issues with older buildings remain challenges for developers.
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