From Vacant Office Tower to Affordable Housing: A New Lease on Life
Over the last few years, many downtown core office buildings have been facing the same fate of vacancy, while many Calgarians have felt the impacts of the rising house prices. Without the prospects of potential leases, developers and landlords are having to take a broader approach when finding a suitable use that benefits both themselves and Calgarians.
One Calgary tower is a part of an exciting opportunity through a partnership with Inn From the Cold and HomeSpace Society! Sierra Place, located at 7th Avenue and 6th Street SW, will provide six floors of affordable housing for vulnerable populations and four floors which have been set aside for shelter. The site will also contain transitional and support services for those who chose to live there permanently. This will include 82 units with a mix of one, two, and three bedroom units. The space will provide low-income families with children, single mothers, Indigenous people, seniors, and newcomers to Canada with an affordable and safe space to call home.
Not only will this development benefit those who will be living in this space, but also create over 160 jobs in the private construction sector and bring economic stimulation to the downtown core. With the hopes to complete Sierra Place by fall of 2022, this anticipated project will be one to keep an eye on.
What are your thoughts on the Sierra Place development? Do you think this will be an effective use of vacant office space in the downtown core?
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