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Ontario  + Alberta & Prairies + Canada  + Office  | 
The City of Calgary is investing $50 million in the conversions of three downtown office properties into two rental-housing towers and a hotel.

Toronto Councillor Pushes for Office Conversions

A Toronto councillor wants the city to convert aging and underutilized office buildings into rental housing.

Brad Bradford will present a motion to the city’s planning and housing committee on Thursday calling for the city to make it easier to convert offices to residential use.

“Given the changing nature of work and the ongoing housing crisis, it is time to re-evaluate the need for office space,” Bradford wrote in his motion.

High vacancies in some major Canadian markets have prompted several investors and developers to contemplate and, in several cases, convert office buildings into rental housing.

But Brian Rosen, president and CEO of Colliers Canada, told Connect that Ontario is not ready for a large office-conversion program.

“We’re not there, in my mind, yet,” Brian Rosen, who is based in Toronto, told Connect in an interview.

Office conversions became highly popular in Calgary, where city hall has paused the Downtown Development Incentive Program after exhausting the $150-million budget for it.


Inside The Story

Brian RosenBrad Bradford

About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

  • ◦Lease
  • ◦Development
  • ◦Policy/Gov't
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