Maxim Olshevsky

Yesterday, Mayor Jyoti Gondek and the City of Calgary announced that People First Developments has been selected as one of three participants of the Downtown Calgary Development Incentive Program; an initiative aimed at revitalizing Downtown Calgary through office-to-residential conversion.

As Managing Director of Peoplefirst Developments, I had the pleasure of announcing the details of our project at 909 5th Ave SW - including the fact that we will bring forward 112 attainable residential units, while removing 104,000 ft² of vacant office space from the market. This incentive program will invest $7.8 Million in the form of a grant towards our project.

I would like to thank the City of Calgary and the entire team behind the Downtown Calgary Development Incentive Program; they have made it possible for us to take on this project, and work towards bringing life back to our city's core. I would also like to congratulate Rob Blackwell of Aspen Properties, and Sarah Itani of Cidex for their successful announcements today. By working together towards this great initiative, we will bring people and vitality back to the centre of our great city.