Come 2027, the doors of the 55-year-old Barclay Centre building are expected to welcome single and family tenants instead of corporate employees.

On behalf of the Minister of Housing and Infrastructure, Gregor Robertson, Corey Hogan — Parliamentary Secretary and Member of Parliament for Calgary Confederation — joined Mayor Jyoti Gondek to announce that the unused office space will be turned into rental suites.

“Today’s announcement is a major step towards providing safe, affordable homes for new immigrants, students, and young couples in Calgary,” said Hogan. 

“It’s another step forward in our bold, ambitious plan to build Canada strong.”

Located at 606 – 4 Street SW, the building — owned by Dream Office REIT — is scheduled to begin construction in October of this year, and is slated to be redeveloped as studio, one-bedroom, and two-bedroom suites.

Funded in part by the federal government, Hogan said that more than $64 million will go towards completing the 16-storey office-residential conversion.

“Our government is committed to driving housing supply to bring housing costs down,” he said. 

“This project will create more, much-needed rental homes for the people living and working in Calgary. It’s an example of what’s possible when governments and the private sector work together.”

Another advancement in Calgary’s affordable housing efforts

The Canada Mortgage and Housing Corporation (CMHC) has been named as a project partner, and in compliance with CMHC’s guidelines, 27 percent of the 166 units are anticipated to be affordable. 

According to the CMHC’s website, housing is considered affordable when it costs less than 30 per cent of a household’s before-tax income. 

In 2020 — the most recent data available — Calgarian households earned an annual average before-tax income of nearly $131,600. Based on this figure, affordable housing would have to cost approximately $3,290 or lower each month.

Today’s Albertans, compared to five years ago, appear to be making more, however. In May, Alberta had the highest weekly earnings out of all of Canada, with each employed resident taking home an average of $1,356.

Despite this, Mayor Gondek said that as Calgary’s population continues to swell, offering affordable housing to both pre-existing and new residents remains a priority.

“There are so many families in Calgary right now that are unhoused, so many that are teetering on the verge of being unhoused,” she said. 

“You don’t know whose life you’re going to change by providing them with affordable housing, and you have no idea what impact that person will have on our city and the world, quite frankly.”

Economically attractive shelter aside, Gondek said that the Barclay Centre office-residence conversion is yet another step towards exchanging the city’s corporate-controlled downtown for something slightly livelier.

Increasing downtown housing recipe for shifting the vibe, said Mayor Gondek

In July 2024, The Cornerstone — Calgary’s inaugural office-to-residential conversion — brought the city council’s intention of approving the Downtown Calgary Development Incentive Program to life. 

Since then, the number of buildings converted to housing sits somewhere in the 20s, and Mayor Gondek said that these are shifting the city’s downtown for the better. 

“We are moving from a core that was once dominated by offices to one that is lively, has mixed uses, and is people-focused,” she said. 

“That’s the vision we have been pursuing for years.”

Gondek said that she expects the 4 Street SW building will be a hot commodity among aspiring tenants, equipped with amenities like a fitness facility, social lounge, working space, and outdoor patio.

“I think it’s going to be incredibly popular with people who really want to choose a lifestyle where they can live downtown,” she said. 

“There’s so many people that work down here, so many people that have startups that are downtown, and so many people that are downsizing from other neighbourhoods they live in.”

Gondek said that the details on how tenants seeking the affordable units, specifically, will be selected are still being discussed, but that the city will make this information available closer to the redevelopment’s completion.