Firefighters were called to the building in the 7000 block of 80th Avenue N.E. at around 8:45 a.m.
The building’s sprinkler system extinguished the fire but residents were displaced due to smoke and carbon monoxide concerns.
As of 10 a.m., ventilation of the building was underway and fire officials expected residents would be permitted to return in short time.
A Calgary Transit bus provided shelter to some of the displaced while others entered a neighbouring building within the complex for a reprieve from the frigid weather.
The cause of the fire is under investigation.