Calgary downtown receives $5 million investment from province
Posted Jan 24, 2023 7:36 pm.
The provincial government announced Tuesday that it’s investing in Calgary’s downtown with $5 million to “create an investment-friendly environment” in the city.
In a statement, it says this is in response to the success of the Alberta is Calling campaign, which aims to bring more people to the province from Vancouver and Toronto.
“The renewed Alberta Advantage continues to attract more companies to set up shop, which creates jobs and opportunities in our province. Through this funding, we are working with our partners to ensure Calgary’s downtown core continues to thrive as the economic and cultural heart of the city,” said Brian Jean, Minister of Jobs, Economy and Northern Development, in a statement.
The province says the City of Calgary and the Calgary Downtown Association (CDA) can provide more support for projects that will “revitalize the city’s downtown core” as a place to enjoy life while also addressing concerns around safety in the area.
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The city received $4 million to assist with downtown revitalization, while the CDA received $1 million to support those projects that will “improve the overall cleanliness and safety of the downtown core.” This will include any overnight street sweeping and “seasonal beautification projects.”
“Building on the city’s $425-million foundational investment in its downtown revitalization strategy, this funding from our provincial partners will expand our ability to create a safer, more engaged and connected community in the centre of our city,” said Calgary Mayor Jyoti Gondek in a statement.
According to the Alberta government, the city’s downtown vacancy rate is around 32.6 per cent after the fourth quarter of 2022.
In addition, the CDA is going to support a gift card incentive program, encouraging support of “high-street retail,” and to put more spending into Calgary’s economy. This includes a project to help downtown businesses implement digital solutions.
