CITY TO CONSIDER PLANS TO CONVERT EMPTY OFFICE SPACE TO APPARTMENTS AS POSSIBLE MEANS TO REVITALIZE DOWNTOWN

 According to real estate service and investment firm CBRE Limited Edmonton's downtown office vacancy rate was the third highest in Canada. Some city councillors suggest the city find ways to incentivize developers to consider residential conversions. A local developer Anuj Gupta, president of Anu Developments questions if converting office towers to residential apartments is the right strategy since apartments bring far less people downtown than if the offices were used as intended.

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