How Developers and Building Owners Can Quickly Convert Class C Office into First-Class Residential

May 17, 2023 2:30 PM – 3:30 PM (GMT-05:00) Eastern Time Metro Toronto Convention Center, 105 Constitution Hall Concurrent Session
Open to All Attendees
Adaptive Use and Building Reuse Housing – Multifamily
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Over the past three years, rising vacancy rates have caused many developers and owners to quickly pivot to what their market needs—more attainable housing. Across North America, Class C buildings have emerged as viable candidates for conversion into multi-family residential in order to recapture cash flow to pay back debts. In 2020, the Calgary Economic Development team engaged the private sector to evaluate a number of buildings in its downtown core which has led to multiple conversion projects now transforming the city. City leaders and building owners continue to look to diversify their portfolios by adding more residential units in empty business districts. This session will present criteria for a successful conversion, and how these can create more vibrant neighborhoods within our cities. Additionally, this panel of experts will explain how the proprietary scoring tool can quickly review existing office buildings to determine if they would make good candidates for multi-family conversions.