Calgary is seeing a well-documented population boom and a building boom appears to be occurring as well, with the City of Calgary issuing more residential building permits in 2023 than it has in any of the past 10 years, the City said on Tuesday.
Last year, Calgary saw the delivery of a record-high of 15,393 homes, which represents an 11% improvement over 2022. Multi-residential homes also increased by a staggering 49%, while secondary suites also saw a big increase of 43%.
"This increase in the number of homes is the result of 16,505 residential building permits being issued by the City of Calgary in 2023, the highest number issued in the past 10 years," the City said. "It also led to the highest residential construction value of $4.31B for issued building permits over the same time period."
"Overall, 2023 was a strong year for construction in Calgary, and we anticipate that 2024 will be another record-breaking year," said Debra Hamilton, Acting General Manager with Planning and Development Services. "It is great to see investor confidence in Calgary. However, the demand is outpacing the supply, as we expect to continue welcoming approximately 65 people per day to our city."
"Calgary needs more homes," added Manager of Housing Solutions Tim Ward. "We expect to welcome another 110,000 new Calgarians over the next four years and already one in five households can't afford their housing. The numbers from 2023 show how much work the development industry is doing in Calgary to get homes built and we look forward to taking action in 2024 to continue that momentum."
In 2023, the City of Calgary received a total of 21,217 building permit applications, 7,601 development permit applications, and 414 land use amendments and outline plans, which amounted to upwards of $5.96B in residential and non-residential construction value and a 4% year-over-year increase, the City said.
In terms of development projects that completed in 2023, the City of Calgary says the five most expensive projects, based on construction value, totalled to $391.2M. Those projects are as follows.
1. Arris Residences
The Arris Residences in East Village.(Bosa Development)
Construction Value: $131.1M
Location: 530 3 Street SE
The Arris Residences is a 42-storey multi-residential building developed by Vancouver-based Bosa Development, in partnership with the Calgary Municipal Land Corporation as part of the large-scale redevelopment of the East Village. The first tower, Arris East, delivered 288 rental units and was completed in March 2021, according to the CMLC.
The Arris Residences tower is now the tallest building in East Village and houses 337 strata units. According to the CMLC, the project reached completion in December and the homes became move-in ready in January.
2. The Oliver Tower 2
The Oliver in Calgary's Beltine.(Centron Group)
Construction Value: $95.6M
Location: 524 10th Ave SW
The Oliver Tower 2 is a 32-storey residential tower developed by Calgary-based Centron Group in the Beltline neighbourhood. Previously, the plan for the site was a 14-storey tower to be named Place 10 West Tower, before the plans were changed to its current form, which delivers 403 rental units.
Similar to the Arris Residences, The Oliver Tower 2 is also the second half of a two-tower project, with the first being The Oliver Tower 1, which completed construction in 2022.
3. Blume
Blume, located at 4739 Dalton Drive in Dalhousie.(Remington Development Corp)
Construction Value: $78.8M
Location: 4739 Dalton Drive
Blume is a mixed-use residential complex in Dalhousie developed by Alberta-based Remington Development Corp. Formerly known as The Dells, the new residential complex will feature two towers with a total of 451 residential units.
The first phase, a 15-storey tower with 269 rental units, is now complete, according to the City of Calgary, with leasing being managed by Bright Star Management Corporation.
4. Era
The Era Condos in Crescent Heights.(Minto Group)
Construction Value: $43M
Location: 123 4 Street NE
The Era was developed by Ontario-based Minto Group, who are also developing the East Hills Crossing project in SE Calgary and the Wildflower project in Airdrie.
Era is a 13-storey condominium building with 186 units sitting above commercial retail units on the ground level. According to Minto Group, all units within Era are now sold out.
5. Riverwalk Retirement Residences
The Riverwalk Retirement Residences in Cliff Bungalow.(Verve Senior Living)
Construction Value: $42.7M
Location: 528 25 Avenue SW
The Riverwalk Retirement Residences is a 12-storey building with 141 units dedicated to seniors and those who may need supportive care, assisted living, and/or memory care.
The project, located in the bustling Cliff Bungalow-Mission neighbourhood, was developed by Ireland-based Campion Property Group and operated by Verve Senior Living.
