A report detailing Calgary's bustling downtown office market is suggesting a potential over-abundance of space could result in increased vacancy.

With as much as 7.5 million sq. ft. of space set to come to the downtown core over the next four to five years, a report from Cresa calls the potential impact of the current level of development "significant", adding to the possibility of increased vacancy in the area.

Space in Calgary's once constricted downtown office market could soon be a little easier to come by.

While ranked as the tightest market in Canada in a report from Avison Young, the vacancy rate in the downtown core could escalate alongside new developments set to enter the market.

Brookfield Office Properties Inc. has announced Cenovus Energy Inc. will be the anchor tenant for their new 56-storey, 247-metro tower in downtown Calgary.

Expected to create 1,300 construction jobs and 7.5 million construction man-hours in Calgary, the entire project calls for an additional office tower totaling approximately one million square feet, a 60-foot-high transparent glass pavilion, restaurants, retail shops and amenities at street level, and underground parking accommodating 1,100 parking stalls.

Almost every week the CREB®now print edition features a community in or around Calgary.  This week it's Inner City.

The Inner City feature includes 73 communities, from Altadore/River Park to Capitol Hill and Inglewood to Windsor Park.  Check CREB®now print edition for the entire list.