THE CONSTRUCTION SOURCE CANADA investing, and that definitely describes the city of Calgary,” he continues. “They’re putting quite a bit of money downtown in the beautification of streets and parks, in safety, in arts and culture, in the activation of public spaces, amongst other things. They’re also incenting developers to redevelop office buildings into rental apartments – and that’s the space in which we’ve operated in for a number of years now. We wanted to be here and participate in that downtown revitalization they have.” A big part of that downtown revitalization has involved the conversion of office space into multiunit residential space. Following COVID, office vacancy downtown was over 30 per cent, so a lot of groups have been getting out of the office sector and selling to investors – Bryce says in the last few years there have been over 30 transactions of office buildings in the downtown area. Alston Properties has been involved in several of those transactions. Most notably, they recently completed a formerly 80 per cent vacant Class C office tower in downtown Calgary – formerly the Dominion Centre office building, located at 665 Eighth St S.W. – into the Dominion Civic Apartments, a 132-unit residential conversion that opened in late October 2025. That project features bachelor, one-bedroom, and two-bedroom suites, with additional amenities including a gym, sauna, and co-working space. On that project, Alston Properties ended up
RkJQdWJsaXNoZXIy OTYzNTg=