Feds, City Invest $75M for Downtown Calgary Office-Conversion Project

The federal government and the city of Calgary are investing $75 million in an office-to-residential conversion project in downtown Calgary. The federal contribution of $64.3 million comes as a low-interest loan to Dream Office REIT, while the city is adding $10.5 million through its Downtown Development Incentive Program. The project will transform the former Barclay Centre into a 166-unit apartment building with various on-site amenities. The development is expected to be ready for occupancy by late 2027.