City council approved a new plan Monday to halt downtown Calgary’s decline.

The Greater Downtown Plan is a strategy to find a long-term fix for the vacancy problem in the core, where nearly one-third of available office space is currently empty. It aims to create a better mix of residential and business space, draw in more private investment and create more opportunities for amenities and entertainment in central neighbourhoods.

Council voted 10-3 to approve an initial $200-million investment in the plan, with $123 million coming from city reserves and an additional $77 million coming from anticipated federal infrastructure funding. Officials said that’s just a start, and over the next decade, central neighbourhoods need $1 billion of investment, with the private sector, province and feds coming to the table.

The majority of council said it was time to act to change downtown’s fate, languishing as a shell of its former bustling business district designed for little beyond a nine-to-five workday. The new city plan envisions the next iteration of the core with a better mix of office and residential buildings, and more interesting and welcoming public spaces.

Planning and development general manager Stuart Dalgleish said Calgary’s downtown transformation might be more extensive than any other North American city.

Keep reading in the Calgary Herald