Shindico is looking to invest in downtown Calgary, says the Manitoba-based company’s president and CEO.

The investments could include office-to-multi-family conversion projects, Sandy Shindleman said in an interview with Connect.

“There is too much office there,” said Shindleman. “So, we’ll be opportunists and look for some.”

Shindico aims to tap into the City of Calgary’s Downtown Development Incentive Program (DIP.) Under the highly popular DIP, the city provides $75 per square foot for office space redeveloped as multi-residential and other commercial real estate assets.

“We’d bring the money and the partners, but we wouldn’t start up a construction company there, a management company at most,” said Shindleman.

The full-service Winnipeg-headquartered commercial real estate company already has a construction arm.

“We like the vibrancy of the city,” said Shindleman. “There’s no question about the [pro-development] attitude. It’s a good diversification for us.”

Winnipeg-headquartered Shindico already has investments in Alberta, along with neighbouring Saskatchewan, Ontario and Quebec, in addition to being highly active in its Winnipeg home base.

“We’re interested in growing in all areas that we operate in, but we’re very careful,” said Shindleman. “The fit has to be there.”

Shindico is celebrating its 50th anniversary this year.

Pictured: Downtown Calgary

Photo: Shutterstock

Be there on May 28 | Toronto: Canadian CRE leaders will be at Connect Canada on May 28th to discuss where the CRE market is headed for the second half of 2025 and beyond. Get the experts’ insights into the challenges and opportunities facing the industry and learn from the leaders who are driving Canadian CRE forward. www.ConnectCanada2025.com | May 28, 2025 | Malaparte, Toronto.