Calgary transforms old, empty office building into new 226-room hotel
Calgary turned an old office building into a new hotel Thursday.
A once-vacant office tower on the west side of downtown has been transformed into Element Calgary Downtown.
It's the city's first-ever office-to-hotel conversion under the city's downtown development incentive program.
Local developer PBA Group of Companies partnered with Concord Hospitality to convert 170,000 square feet of Fourth Avenue office space into 226 hotel suites and the Bow and Bend Rooftop Bar and Lounge.
Element Calgary Downtown
Element Calgary Downtown, a new 226 room hotel opened in downtown Calgary Thursday. It was the city's first office-to-hotel conversion.
(City of Calgary)
The conversion was part of the city's downtown development incentive, which offers developers up to $60 per square foot to convert unused office space for hotel use.
'The Element Hotel is a powerful example of what downtown revitalization can look like,' said Mayor Jyoti Gondek, in a media release. 'As Calgary's first office-to-hotel conversion, it reflects our commitment to breathing new life into the core and creating dynamic, mixed-use spaces that bring people and energy back downtown.'
The hotel fits into the city's vision for revitalizing Eighth Street S.W., offering easy access to nearby multi-use river pathways, the Bow River and public transit.
Bow and Bend Rooftop Bar & Lounge
The Bow and Bend Rooftop Bar & Lounge is part of the new Element Calgary Downtown on 4 Avenue S.W.
(City of Calgary)
'The Element Hotel not only offers guests something truly unique, it injects fresh energy into our downtown core and helps shape Calgary's evolution as a dynamic, future-ready city,' said PBA CEO Patricia Phillips. 'We're excited to officially open our doors and welcome a new group of guests to Calgary's downtown West End, as we continue to lead the way in building community and driving positive change across the city.'
The downtown development incentive is currently supporting 21 office conversions, converting more than 2.68 million square feet of office space into 2,628 new homes, 226 hotel rooms and a hostel.
To learn more, go here.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Globe and Mail
2 hours ago
- Globe and Mail
Gran Tierra Energy Reports Record Production in Q2 2025
Gran Tierra Energy Inc ( (GTE)) has released its Q2 earnings. Here is a breakdown of the information Gran Tierra Energy Inc presented to its investors. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Gran Tierra Energy Inc. is an independent international energy company focused on oil and natural gas exploration and production, with operations primarily in Canada, Colombia, and Ecuador. The company is known for its diversified portfolio and disciplined approach to reservoir management. In its second quarter of 2025, Gran Tierra Energy Inc. reported record production levels, achieving an average of 47,196 barrels of oil equivalent per day. The company also announced a funds flow from operations of $54 million and an adjusted EBITDA of $77 million. Additionally, Gran Tierra signed a mandate letter for a $200 million funding facility and entered a binding agreement to exit the UK North Sea. Key financial highlights include a net loss of $13 million, a decrease from the previous quarter, and a 44% increase in production compared to the same quarter last year. The company achieved a record of 32 million hours without a lost time injury and reported the lowest operating costs per barrel since early 2022. Gran Tierra's strategic moves, such as successful drilling in Colombia and Canada, and exploration in Ecuador, contributed to these outcomes. Gran Tierra continues to optimize its portfolio by divesting from non-core assets, such as the UK North Sea, and focusing on its core operations in South America and Canada. The company is also enhancing its financial flexibility through strategic funding arrangements and a disciplined hedging strategy. Looking ahead, Gran Tierra Energy Inc. remains committed to its strategy of disciplined capital allocation and balanced growth, with plans for further exploration and development in its key operational areas. The management anticipates continued strong performance and long-term value generation for stakeholders.
CTV News
2 hours ago
- CTV News
North Bay gets $400K from province for smashing housing targets
Nipissing MPP Vic Fedeli announced $400,000 in provincial funding for North Bay on Friday for exceeding housing targets. The city built nearly 400 homes last year - five times the requirement. The funds will support more new builds and local infrastructure.
Globe and Mail
3 hours ago
- Globe and Mail
Shell Plc Reports Strong Cash Flow and Strategic Advances
Shell Plc ( (SHEL)) has released its Q2 earnings. Here is a breakdown of the information Shell Plc presented to its investors. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Shell Plc, a leading global energy company, is engaged in the exploration, production, refining, and marketing of oil and natural gas, as well as the production and marketing of chemicals. The company is known for its significant investments in renewable energy and its commitment to reducing carbon emissions. In its latest earnings report, Shell Plc reported strong cash flows and operational performance despite a challenging macroeconomic environment. The company highlighted its strategic advancements in deep-water projects in Nigeria and Brazil and celebrated the shipment of its first LNG cargo from Canada. Key financial metrics from the report include adjusted earnings of $4.3 billion and cash flow from operations (CFFO) of $11.9 billion. Shell maintained a strong balance sheet with a gearing of 19% and announced a $3.5 billion share buyback program. The company achieved $0.8 billion in structural cost reductions in the first half of 2025, contributing to a cumulative reduction of $3.9 billion since 2022. The company continues to strengthen its LNG position and aims for a 4-5% annual growth rate in LNG sales by 2030. Shell also enhanced its deep-water portfolio with new projects in Brazil and Nigeria. Despite lower trading results, the company remains committed to its strategic goals. Looking ahead, Shell's management remains focused on performance and discipline, with a stable cash capex outlook of $20-22 billion for 2025. The company is poised to continue its strategic initiatives in both traditional and renewable energy sectors, aiming for long-term growth and sustainability.
