The renovated Core mall is the best in the city and it isn't even finished. For higher end men's wear there's no comparison.
Like others have said, many people define "downtown" calgary as the business district. In a white collar city like Calgary or Toronto or even New York the business districts are by nature more weekday oriented. No one hangs around Bay street in Toronto on the weekend or evening, but you wouldn't call "downtown" Toronto a ghost town. The life is on streets like queen or bloor - it's the dense mixed use areas surrounding the CBD that most cities still call "downtown" that are alive.
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