Calgary Unveils Two Major Below-Market Housing Conversion Projects in Downtown Core
The City of Calgary has announced two significant office-to-residential conversion projects in its downtown area, both spearheaded by below-market housing providers. These initiatives represent a strategic move to address housing affordability while revitalizing underutilized commercial spaces in the urban core.
Transforming Vacant Offices into Affordable Homes
According to a city news release, the housing providers involved are HomeSpace Society and Trellis Society for Community Impact. Together, their projects will repurpose approximately 100,000 square feet of vacant office space into 128 below-market homes. This conversion effort is part of Calgary's broader strategy to tackle housing challenges while breathing new life into the downtown district.
"These projects represent exactly the kind of outcomes we are working toward on behalf of Calgarians," stated Reid Hendry, the city's chief housing officer. The announcement underscores the municipality's commitment to creating more accessible housing options for residents.
Federal Funding Supports Ambitious Conversions
The projects will receive partial funding totaling $10.3 million from the federal government's housing accelerator fund. This financial support comes from the $228.5 million allocation Calgary received in November 2023 to bolster its housing strategy, known as Home is Here.
Mayor Jeromy Farkas emphasized the dual benefits of these initiatives in the city's announcement. "With these projects, and thanks to funding from the federal government, we are tackling Calgary's housing affordability challenge while breathing new life into our downtown," Farkas said. "By transforming empty office space into non-market homes with our non-profit partners, we're strengthening our downtown community, supporting economic resilience, and ensuring Calgarians have access to safe, stable, and more affordable housing close to jobs, transit and services."
Detailed Breakdown of the Two Projects
The HomeSpace Society project, located at 1000 Eighth Avenue S.W., will convert office space into 65 housing units. This development will include:
- 30 studio apartments
- 35 one-bedroom apartments
HomeSpace received $4.1 million from the housing accelerator fund, with the total project cost estimated at $27.5 million.
The Trellis Society project, situated at 441 Fifth Avenue S.W., will create 63 below-market units with the following configuration:
- 27 studio apartments
- 18 one-bedroom units
- 9 two-bedroom units
- 9 three-bedroom units
Trellis is collaborating with Bluevale Capital Group on this development. They secured $6.2 million from the housing accelerator fund to support the $27.8-million project.
Creating Space for Families in Downtown Calgary
Jeff Dyer, CEO of the Trellis Society, highlighted the importance of including larger units in the conversion projects. "By including nine three-bedroom homes in this project, we're creating space for families to put down roots, thrive and remain connected to the services and opportunities that downtown living offers," Dyer explained. "This investment allows us to respond to real community need while helping ensure Calgary's downtown is a place where families of all sizes belong."
Progress and Challenges in Calgary's Housing Strategy
While Calgary has been making significant progress in its housing strategy—the city recently revealed it granted occupancy to 28,000 homes in 2025—it continues to face challenges in meeting specific targets. The municipality is currently lagging behind its goal of delivering 3,000 new below-market housing units annually. Last year, development permits were approved that will support approximately 1,800 below-market units, indicating ongoing efforts to bridge this gap.
These two conversion projects represent a tangible step forward in addressing both housing affordability and downtown revitalization simultaneously. By leveraging federal funding and partnering with experienced non-profit housing providers, Calgary is creating innovative solutions to complex urban challenges while providing more Calgarians with access to affordable housing options in the heart of the city.
