More than 1,500 new high-density homes are set to be built in downtown Calgary through a new city-led incentive program designed to accelerate multi-family real estate development in the core.

The Downtown Density Bonusing Offset Program aims to reduce construction costs for developers by offsetting the price of community amenity contributions, such as parks, public art, and affordable housing. In return, developers will be allowed to increase the size or number of units in their projects, boosting revenue opportunities.

The program will kick off June 1.

“With the explosive growth we are seeing here, it’s clear that Calgary needs to build more homes,” said Mayor Jyoti Gondek. “Building homes downtown ensures we’re meeting demand, boosting affordability, providing options for Calgarians, and creating a more connected and livable city for everyone.”

City officials say the initiative will encourage high-density residential projects that enhance vibrancy, affordability, and safety, while also supporting local businesses and the broader community.

“Downtown is one of Calgary’s fastest-growing communities, and Calgarians are embracing the lifestyle,” said Thom Mahler, the city’s director of downtown strategy. “This program is an incredible opportunity to build high-density development that fits the area, benefits the entire city and creates homes with easy access to jobs, transit, arts, culture, and exciting public amenities.”

The program complements existing city efforts, including office-to-residential conversions and housing strategy initiatives, all aimed at revitalizing Calgary’s downtown.

Pictured: BLVD Beltline project in Calgary’s Beltline district.

Image: BLVD Beltline

Register to Attend | May 28, Toronto, ON | Connect Canada is taking place at Malaparte in Toronto, on May 28. Be there to get the leaders’ outlook for multi-family demand, dealmaking across asset classes, navigating a shifting political landscape, and more. www.ConnectCanada2025.com | May 28, 2025 | Malaparte, Toronto.