How 1,500 new homes are in the works for downtown Calgary | Daily Hive

How Downtown Calgary might be getting 1,500 new homes built

Coveting the downtown lifestyle but put off by the sticker price? Well, you’re in luck, because it’s about to get easier to build homes in downtown Calgary, which could mean your dream apartment will be within reach.

According to the City of Calgary, a new incentive program might lead to over 1,500 new homes downtown.

It’s no secret that the downtown core is one of the city’s fastest-growing communities, but it has struggled to keep up with demand for years.

“This program is an incredible opportunity to build high-density development that fits the area, benefits the entire city and creates homes with easy access to jobs, transit, arts, culture, and exciting public amenities,” says Thom Mahler, director of downtown strategy.

In order to ramp up the housing supply and increase affordability, this incentive program aims to remove barriers and provide financial incentives to build. But how does that work?

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The Downtown Density Bonusing Offset Program works to reduce the cost of construction and encourage new high-density development, all while continuing to invest in community amenities.

This means faster growth, more housing supply, and better communities so that Calgarians can enjoy easy access to work, transit, and local businesses.

“With the explosive growth we are seeing here, it’s clear that Calgary needs to build more homes,” says Mayor Jyoti Gondek. “Building homes downtown ensures we’re meeting demand, boosting affordability, providing options for Calgarians, and creating a more connected and livable city for everyone.”

This program is intended for building projects in the greater downtown area, which includes the Downtown Core, Downtown West, Eau Claire, Chinatown, East Village, and Beltline.

Downtown Density Program Area / City of Calgary

Adding more housing sure sounds like a nice idea, but how does this program help build public amenities? That’s the clever part: it’s baked into the cake.

Density bonusing works by allowing developers to add more suites, floors, or square footage to buildings. The catch is that they can only do this in exchange for investing in community amenities like parks, public art, or by giving money to a community investment fund.

In short, if they want to build more to sell more, they need to make the communities a nice place to live.

The spirit is to revitalize downtown Calgary by building new homes, enhancing public amenities, encouraging diverse buildings and businesses downtown, and making the streets more lively with beautiful community spaces.

This density incentive program is all part of the city’s larger Downtown Strategy to develop Calgary’s core and help it flourish. The strategy also includes office-to-residential building conversions and the transformation of 8th Street SW.

What do you think about the city’s plan to build more homes in downtown Calgary? Let us know in the comments below.