Varcoe: West side story for downtown Calgary needs a big role for local players yyc yycbiz
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As efforts to revitalize Calgary’s downtown accelerate, the western side of the city’s core is now squarely in the sights of policymakers and local business leaders. The study by the Calgary Office Revitalization and Expansion working group pointed out that more than half of the overall office vacancy in Calgary is from buildings located west of 5More than 90 per cent of the city’s older Class B and C office buildings are situated in this area.
It includes the Peoplefirst Developments project at 909 5 Ave. S.W., which will convert 104,000 square feet of office space into 112 units, including two- and three-bedroom apartments. Civic leaders know a broader vision for the entire west end is needed, similar to the strategy that successfully guided the East Village’s transformation.
“There’s a sense when you go there that you’re not really sure what kind of neighbourhood this is — and it’s that area that we’re really starting to turn our mind to,” Mahler said in a recent interview.According to commercial real estate firm CBRE, the vacancy rate at the end of the third quarter for the downtown’s western end stood at nearly 37 per cent.Article content
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