Less than a month after our visit to Calgary and voilà! The city just updated its terms of reference for office-to-residential conversations. Co-living is now in the mix:
The Downtown Calgary Incentive Program is a cornerstone of The City’s Downtown Strategy and a major driver of the vision and goals of Calgary’s Greater Downtown Plan. The program supports downtown property owners to redevelop or remove underused office space and bring in a greater mix of amenities and services that support a thriving and resilient downtown community.
The Downtown Calgary Development Incentive Program supports office space conversions to residential units, co-living developments, hotels, schools and performing arts centres.
In July 2024, Council approved an updated Terms of Reference for this program. We anticipate additional funding for this program to become available later this year, with applications opening in September.
– City of Calgary
New co-living developments will be fast-tracked, and the program offers a $60PSF incentive to make co-living conversions happen faster. Huge thanks to the whole Calgary Downtown Strategy Team for their leadership. We are now redoubling our efforts with partners Cushman & Wakefield to find a great building to bring co-living to Cowtown as soon as possible.
Co-living conversions could also help the colleges and universities of Calgary with their urgent housing needs. We’ve been in meetings with Bow Valley College and University of Calgary about how Toboggan Flats can help.
And on the subject of learning and education….we’re learning too.
We’ve joined an international co-living incubator
As we continue to develop our operational model and business, two of our team members have signed up for the Artof.Co Incubator. Designed by experienced co-living founders Guid Perdrix and Mayank Pokharna, who also serve as instructors, the incubator helps entrepreneurs build sustainable co-living businesses.
Over twelve months, our team will connect with co-living founders who have succeeded in their ventures and learn from the successes and failures of other co-living businesses—all while building a network of co-living entrepreneurs around the world.
Meet our Residents Advisory Council
Over the next few newsletters, we’ll be introducing you to the members of our Residents Advisory Council (RAC). We established the RAC to include potential future residents in designing the Toboggan Flats living experience.
Made up of young adults who are passionate about co-living and Toboggan Flats, the RAC will help us design a co-living model that suits the needs of our future residents.
This week, we’re pleased to introduce:
Cyanne Chun
I’m a recent graduate from the University of Toronto, where I specialized in architecture with minors in urban studies and visual studies. I have a strong interest in using my educational background to create spaces for youth to live and thrive.
Oki Adeoba
I am drawn to the concept of co-living at Toboggan Flats due to its affordability, convenient location, and the strong emphasis on community building. It provides a unique opportunity to live in a vibrant and supportive environment while enjoying the benefits of shared resources and close proximity to essential amenities. Co-living offers an ideal setting for fostering connections and enhancing quality of life, all at a reasonable price.
