Replicating Calgary’s nascent office-to-residential conversion momentum in other markets will likely depend on the same combination of weak office values, strong housing demand and generous incentives.

A heritage mansion in Vancouver’s West End has been sold for $6.72 million and will be converted into rental housing. Considered one of the neighbourhood’s ‘last great mansions,’ for decades it had served as a restaurant, but new owner Nevin Sangha plans to convert the 17,327 square foot house into multiple apartment units.

A 17-storey luxury hotel in downtown Vancouver, known as the Viva Suites Hotel, has been acquired by CIBT Education Group’s (CIBT) wholly owned subsidiary, Global Education City Holdings Inc. (GEC), with the intent to convert it into a 230-bed student housing development for foreign students. The total value of the project, including purchase price and renovations, is approximately $37-million.