You can think of Calgary's 'Centre City' much like Vancouver in the early 90s. Still lots of vacant and underutilzed land, but near the start of a massive urbanization. Even lots of Vancouver developers and architects (like Anthem, Qualex Landmark, Concord Pacific and previously Bosa with Foad Rafii, James Cheng, Arthur Erickson/Busby) are very active in the residential boom. We have over 12 000 residential units either under construction or proposed in the Centre City. It's very much following in the footsteps of Vancouver. You could think of West Beltine (Connaught), very much like the West End (Older established and more built out), and the East Beltline as very much like Yaletown (started out industrial, warehouse with a lot of vacant land and is getting the lions share of development). Eau Claire has some parallels to Coal harbour - wealthy, waterfront etc (as vancouver developer Anthem likes to point out in its marketing of its 'Waterfront' condo project)...and so on.
You'll notice that Vancouver's downtown penninsula and Calgary's Centre City (which consists of the CBD, West End, Eau Claire, Chinatown, East Village and Beltline) are almost exactly the same size geographically.
Also, keep in mind that Calgary is the same population now as Vancouver was in the early 70s. Calgary is undergoing its rapid urbanization in the core at a smaller population to what Vancouver was when it started after Expo 86. \
Calgary's current Centre City population of 33 000 is roughly 3% of the metro population, while in Vancouver, its 85 000 or so residents in the downtown penninsula comprise about 3.8% of the metro population. Vancouver's downtown population is a fantastic achievement, but it isn't exactly like night and day. Given the incredible amount of development activity happening in Calgary, I'm sure it won't take too long before Calgary catches up in this ratio.
Oh, and I'm sure all these new residents will love their new adopted piece of public art!