Dream Office REIT and Pomerleau Capital partner on $70M Office-to-Residential Conversion in Calgary

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[{"type":"text","content":"\n\n\nDream Office REIT and Pomerleau Capital partner on $70M Office-to-Residential Conversion in Calgary\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\nCanada NewsWire\n\n\nConstruction underway for 166 market and affordable housing units \nCALGARY, AB, Oct. 24, 2025 /CNW/ - Dream Office REIT (TSX: D.UN) and Pomerleau Capital, the financial arm and investment fund manager of Pomerleau, are pleased to announce their partnership on a transformative $70 million office-to-residential conversion project located at 606 4 Street SW, in downtown Calgary. Construction is now underway, marking a major milestone in the redevelopment of the former Barclay Centre.\nThe project will convert approximately 135,000 square feet of underused office space into 166 new homes, including a mix of studios, one-bedroom, and two-bedroom suites. Significantly, 27% of the units will be designated as affordable housing, directly supporting Calgary's housing needs and aligning with municipal policies promoting adaptive reuse and urban densification.\nThe first units are expected to be completed in 2027, contributing to the livability and affordability of Calgary's downtown core.\nA strong start to a strategic partnership \nThis initiative represents the first collaboration between Dream and Pomerleau Capital, reinforcing both organizations' commitment to sustainable urban development. This project is also Pomerleau Capital's first investment in an office-to-residential conversion, a concrete demonstration of its strategic investment approach in real assets that generate long-term community impact.\nThe construction is being led by ITC Construction Group, one of the largest residential construction companies in Western Canada and a wholly owned subsidiary of Pomerleau. This partnership highlights Pomerleau's strong internal synergy and integrated delivery capabilities.\nQuotes\n\"Through our collaboration with Pomerleau Capital, this project showcases how innovation in design and development can redefine urban living. By thoughtfully adapting existing spaces, we'r...

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