Plan considered to reverse Calgary’s growing commercial vacancies

The oil downturn has seen the commercial real estate vacancy rate in downturn Calgary surge to around 20 per cent but a new plan aims to address that.

Calgary Economic Development is considering ideas such as converting offices to residential and introducing incentives to bring new companies to the city.

As part of the package to attract new businesses, the CED will say that it believes the energy sector has changed permanently; allaying fears that better times for the industry could squeeze the labour market for other sectors.

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