City of Calgary Approves Inaugural Project for Demolition Incentive Program

The city of Calgary has announced its inaugural funding application under the Downtown Calgary Demolition Incentive Program.

The city plans to bring down four abandoned buildings, three along the south side of 4 Avenue S.W. between 5 and 6 Street and a fourth which is not under the incentive program. Edmonton developer Cantiro Group will reportedly start the demolition of the buildings, which have sat vacant and boarded up for years.

According to the city, the proposed redevelopment project will include a 33-storey mixed-se tower consisting of roughly 340 purpose-built rental housing units including at least 50 affordable units as well as a two-storey retail podium designed to support a variety of commercial uses.

“This incentive will enable $100 million private investment to flow into our downtown through this project, clearly demonstrating that the Downtown Revitalization Strategy is working”, says Calgary Mayor Jyoti Gondek in the City’s News Release.

The Demolition Incentive Program was designed to help with “abatement and demolition costs, allowing that land to be better used for purposes that improve downtown vibrancy.” Under the program, grants provided cover 50% of demolition costs up to $15 per square foot, says the City.

“An additional $5 per square foot is available for projects requiring asbestos or hazardous material abatement”, says City of Calgary.

Demolition on the sites is set to begin early this month while construction is planned for Spring 2025.

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