THE CASE FOR CONVERSIONS - Understanding opportunities for conversions of office space to housing in Canadian downtowns
4 April 2023
success of this strategy is becoming clear, are benefits to investing in office conversions In Calgary, for example, the downturn in Calgary’s experience also demonstrates in the appropriate location, under certain the energy sector in the mid-2000s led to a how important it is to act in a timely and market conditions and for buildings with downtown office vacancy rate of 30% and nimble way. [...] 24 24 Understanding opportunities for conversions of office space to housing in Canadian downtowns LOW-RISE BUILDING This typology is defined less by the era of building and more by the characteristics of the building. [...] Regina Winnipeg Halifax Ottawa 52 Understanding opportunities for conversions of office space to housing in Canadian downtowns SNAPSHOT OF DATA AND TRENDS OFFICE AND HOUSING MARKET The opportunity for conversions is shaped by the Downtown Office Market (Q3 2022) 1 demand for office space and housing. [...] of residential growth Ensure downtown plans and strategies are regularly Municipal To account for changing conditions reviewed and iterated to support office conversions Implement residential design and livability standards Municipal To set minimum livability standards and prevent the for office conversions creation of low-quality housing Permit the repurpose of excess parking for other Municipal. [...] Develop an inventory of office buildings and Municipal To identify the scale of opportunity for viable conversions developable sites and enable Cities to know when sites are scarce and conversion may be a viable option for housing Track the creation of units through conversion in a Municipal To allow a municipality track unit creation and scale of building permit database conversions through permi.