The rental price in this unique building will come as a welcome surprise.
Photo: JIM WELLS / POSTMEDIA
The seven-story building in the heart of Calgary was an obsolete office complex of 62 thousand square feet that the last tenant was about to leave. The situation changed when its owner, the development company Strategic Group, decided to give the building a new life.
Strategic Group spent C$25 million to repair the building and redeveloped it into a multi-apartment residential building of 65 apartments with one and two bedrooms. The residential complex was called “Cube”.
The cost of renting in Cube starts from C$1600 per month. The first tenants moved in on May 1. If you want to see the available apartments, go to 1177 11th Ave SW, Calgary (Alberta).
For many years, the city authorities have been discussing the idea of converting excess office space into residential units as one of the possible solutions to the problem of the vacancy rate in the city centre. The Cube project is the first to be implemented.