I would be quite surprised to see more cranes.
Pipelines (and their benefit of limited term construction management jobs + small amount of maintenance jobs + reduced transportation costs) =/= anywhere near enough head office jobs that would make a dent in the 25+% vacancy we have already (let alone the ongoing global collapse of many sectors, including energy). Whatever new demand is eventually created for office space will be dwarfed by the collapse of other users. Most of Calgary's workforce growth potential remains in other sectors once the immediate crisis is resolved, most of which need no office product we don't already have. So no cranes there.
Unfortunately, non-energy job growth will be hampered but a sole-focused provincial government desperate to support a single industry over all others. Removing all tax credits for tech and others certainly didn't help non-energy job growth, but combining it with a happy program of deeply slashing public sector drivers such as municipalities, universities, hospitals and schools and the related employment will not be good for the local housing growth or construction. Calgary and Edmonton - having a disproportional amount of municipal, university, hospital and school projects on account of being Alberta's only major cities - are bearing the brunt on these cuts, while simultaneously their potential is being handicapped by removing the attractive policies for alternative economic drivers that would otherwise concentrate in our largest cities.
Our population and household growth is driven by both international migration and local growth. I don't know what the crisis will mean for those numbers, but surely the international growth driver will be negatively impacted for a while. Again, this means less potential for new population, therefore less new development.
I hope someone has a more positive assessment out there, I would be happy to hear it.... but I don't see a good way out of this one for Calgary or Edmonton with (1) a collapsed global economy, including oil and gas demand (2) a provincial government actively working against many of the drivers of urban growth, through cutting investment and job potential in alternative sectors.