Calgary is reviving its office-to-residential conversion program with a new commitment of $52.5 million, following the allocation of its previous $153-million budget. The initiative aims to encourage developers to transform office buildings into multi-unit residential properties. The Downtown Development Incentive Program offers $75 per square foot, with a maximum of $15 million per project. Despite challenges like rising construction costs, the city hopes to support at least three projects. Calgary's downtown office vacancy rate remains high, prompting these efforts.