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Weighed down by declining industrial development, Calgary's commercial building activity hits 10-year low

Multifamily development has buoyed construction employment even as other property sectors pull back
Summit 77 by Partners Properties will bring over 300 units to the Springbank Hill area by year's end. (Donovan Bissett/CoStar)
Summit 77 by Partners Properties will bring over 300 units to the Springbank Hill area by year's end. (Donovan Bissett/CoStar)
CoStar Analytics
July 15, 2025 | 8:11 P.M.

Over the last few years, the Calgary market has seen tremendous growth. Developers have ramped up construction activity in both the industrial and retail segments to meet demands of the growing local population and from across western Canada as an increasingly attractive distribution hub offering significant real estate cost savings.

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