News   Apr 03, 2020
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News   Apr 02, 2020
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News   Apr 02, 2020
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Calgary's Downtown Dilemma

I'm trying to think of additional services that could have synergies with addiction treatment and I'm struggling, mostly because I don't know what addiction treatment actually looks like. It is a blind spot.
It can have treatment but also an outpatient facility so we bring those that O/D to this facility first. For some, they might not be heavy drug abusers, and if there's services there when they leave, they're not going back out on the streets. Something like social workers, affordable housing representatives, employment services to let them turn their lives around. It's not going to help the severe cases, but most people start as functioning addicts before they spiral to the people we see causing public safety issues.
 
The Herald is reporting that our office vacancy rate is currently at 30.7% I thought this was starting to come down with all he conversions and people working downtown again. Guess not...
It sounds like the buildings being converted are still being counted as office space.

The city’s 10 downtown-to-office-conversion projects, some of which have been hit by delays, will remove up to 1.1 million square feet of office space, amounting to 2.6 per cent of existing downtown inventory, and add more than 1,100 new homes to the downtown.
 
The Herald is reporting that our office vacancy rate is currently at 30.7% I thought this was starting to come down with all he conversions and people working downtown again. Guess not...
The vacancy rate won't come down any time soon. Working trends have changed - technology advances, remote work etc.., The oil and gas industry continues its gradual downsizing and some companies will continue to downsize in space, even if they add employees.
It sounds like the buildings being converted are still being counted as office space.

The city’s 10 downtown-to-office-conversion projects, some of which have been hit by delays, will remove up to 1.1 million square feet of office space, amounting to 2.6 per cent of existing downtown inventory, and add more than 1,100 new homes to the downtown.
My prediction is we'll see even more space converted to residential after these latest conversions and I don't believe the city will need to fund it. Some buildings will sit empty for a long time and eventually the owners will more or less write it off, with conversions being a way to salvage what they can.
 

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