PBA Group of Companies along with its partner Concord Hospitality are announcing their joint repurposing of The Canadian Centre in the downtown core. This marks a major milestone for PBA by proudly announcing the conversion of The Canadian Centre (833 4th Ave. SW) office building into flexible residential units within the City of Calgary’s Downtown Development Incentive Program.
The Canadian Centres western downtown location, and easy access to transit, represents a strategic opportunity to establish an active and lively residential hub on the west side of downtown with proximity to the Bow River open space, multi-use pathways, and the 8th Street urban improvement corridor. In addition to the core residential conversion, this project will incorporate a series of top-tier amenities such as a fitness studio, bicycle repair and storage, and common areas (indoors and outdoors) designed to enhance the living experience of the residents.
Development Profile – The Canadian Centre is a 12-floor, 167K sq. ft. office building constructed in 1982. PBA is converting the buildings existing office space and common areas into 225 dwelling units, which will offer fully furnished short-term rental units on the lower floors, and rental apartments on the upper floors, all of which will offer flexible rental terms. By offering a unique combination of fully furnished apartments and short-term units we are providing a range of choices within the housing category while supporting Calgary’s greater economic transition and welcoming a new mix of people to the downtown core.
This development is expected to introduce a best-in-class model of flexible workforce housing into the market. Interior demolition is scheduled to start in the fall, with occupancy targeted early 2024.
PBA is continuing to honour our mission of connecting people to make space for dreams by offering a range of housing options that we hope will contribute to the transformation of our downtown core and – along with other projects in the conversion program – support the long-term vision of a more vibrant and community-focused urban neighborhood.
City announces two more downtown office-to-residential conversion projects approved for funding:
Downtown Calgary Development Incentive Program: