KPMG Calgary office relocation bodes well for downtown rebound, say observers

After almost five decades at their previous Calgary office, more than 800 employees from one of the “Big Four” consultancy firms have landed in new downtown digs.

Over the last several months, KPMG has relocated all of its Calgary-based employees to the recently renamed and remodeled KPMG Tower at 240 4 St. S.W.

The 31-storey skyscraper, which was built in 1988, was formerly known as 240FOURTH.

The firm’s Calgary employees previously worked out of Bow Valley Square, a downtown skyscraper at the corner of 6th Avenue and 1st Street S.W., for 46 years.

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The relocation represents a growing optimism in the future of Calgary’s downtown office sector, according to observers, while also reflecting a society-wide shift back to an in-office corporate culture.

KPMG’s new headquarters includes 120,000 square feet of office space spread across five floors, all of which are interconnected via a signature staircase.

A news release from Avison Young, the commercial real estate advisory firm that was involved in KPMG’s relocation effort, states that the consulting firm’s new HQ was configured to be flexible for hybrid work, “with neighbourhood layouts balancing open collaboration zones, focus areas, and dedicated mentor pods.”

Recent upgrades to the newly named tower include a new fitness centre, end-of-trip facilities, curated food options, an espresso bar, and access to a multi-sport and recreation amenity.

“KPMG Tower is not only an address change; the move signals a cultural renewal, translating a forward-looking workplace strategy into a dynamic environment built around flexibility, connection, and wellbeing,” the news release states.

The firm’s relocation is an encouraging signal for Calgary’s downtown office market, argues Brennan Yadlowski, Avison Young’s managing director in Calgary.

It also reflects that companies are shifting back to in-office expectations for employees, after years of flexible work-from-home policies in the wake of the COVID-19 pandemic.

With that return-to-office transition already underway across many industries, companies are increasingly prioritizing high-quality offices that support in-person collaboration, culture, employee experience, and engagement with clients, Yadlowski said in an email.