Gensler Member Workshop – Future Proofing: Why Bad Office Makes for Good Residential

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  • Location: Virtual Event
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Future Proofing: Why Bad Office Makes for Good Residential

Thursday, June 10 at 12 PM ET

Going into the pandemic, the city of Calgary was already facing an existential crisis in terms of office vacancy rates to 25% due to plunging oil prices. Now, the vacancy rate around nearly 30% is worse than when Detroit declared bankruptcy.

A fundamental truth become obvious: our downtown business districts are not diverse. Now in 2021, Calgary has 6 million square feet of vacant office space on the market.

Join Steven Paynter, Principal at Gensler and Hannes Kovac, President and COO at Opus, as they reveal how Gensler’s framework identified 2 million square feet of underperforming office buildings that would make great candidates for conversion, and how Opus is applying this intel to their first project.

Key takeaways:

  • • The specific circumstances where conversion can be done and how it can be achieved efficiently
  • • Why conversion is preferable to tearing an underperforming building down
  • • Precedents for how office to resi conversion has been successful at both the building and the city-wide level
  • • Gensler’s 10-point check list to determine good conversion candidates based purely on data
  • • Research on 50+ incentives from cities globally that have been successfully applied to encourage conversions

Join Gensler in their workshop to learn more. Tickets are complimentary!

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Add to Calendar   06/10/2021 12:00 PM 06/10/2021 1:00 PM Canada/Toronto Gensler Member Workshop – Future Proofing: Why Bad Office Makes for Good Residential

Future Proofing: Why Bad Office Makes for Good Residential

Thursday, June 10 at 12 PM ET

Going into the pandemic, the city of Calgary was already facing an existential crisis in terms of office vacancy rates to 25% due to plunging oil prices. Now, the vacancy rate around nearly 30% is worse than when Detroit declared bankruptcy.

A fundamental truth become obvious: our downtown business districts are not diverse. Now in 2021, Calgary has 6 million square feet of vacant office space on the market.

Join Steven Paynter, Principal at Gensler and Hannes Kovac, President and COO at Opus, as they reveal how Gensler’s framework identified 2 million square feet of underperforming office buildings that would make great candidates for conversion, and how Opus is applying this intel to their first project.

Key takeaways:

  • • The specific circumstances where conversion can be done and how it can be achieved efficiently
  • • Why conversion is preferable to tearing an underperforming building down
  • • Precedents for how office to resi conversion has been successful at both the building and the city-wide level
  • • Gensler’s 10-point check list to determine good conversion candidates based purely on data
  • • Research on 50+ incentives from cities globally that have been successfully applied to encourage conversions

Join Gensler in their workshop to learn more. Tickets are complimentary!

1 First Canadian Place - Virtual Event

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