Ultimately it depends on a lot of factors. What are your priorities? Budget? Safety? Fun? Are you a male or a female (not being sexist but some areas are just not safe for young women).
In general I would not live right downtown. Its empty at night and scuzzy in a lot of areas. I lived downtown in my first apartment and I found it OK but it wasn't great.
Check out the following areas:
Beltline - basically 10th ave - 25thish ave from 1st Street SW-14th Street SW. Close to downtown and lots of places to eat and drink and what not. Safer than downtown.
Marda Loop - a little away from Downtown but a nice area. A little pricey
Bridgeland - This is the area across on the North side of Downtown up Edmonton trail. Again close to downtown but more of a neighborhood.
Kensington - North of downtown on the West side. Great area but a little pricey. But great night life and close to a bunch of stuff to do.
Those are your primary options for being close to downtown. After that you start to extend further out.
Good luck and welcome to Calgary!
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