Occupancy Index - March 15, 2022

Comments–

Suits are once again filling up the PATH. Many are returning to the downtown for the first time since last Fall. While March break may have slowed the momentum some, there is no question that permitted voluntary return to the office is finally being taken up.

From our interviews, we anticipate 25% return by the end of April.  While some companies are requiring attendance in the office some of the week, few are requiring more. Only a handful of companies insist on a full return. Office space in the 905 is has reached 30% occupancy for the first time.

Stay safe, your SRRA team.

Links to Articles of Interest

Dig beneath the headlines! 

 If you read nothing else in this batch of links, please take a moment to read the wise comments from Google’s CEO

Or maybe this piece from the Economist. Many of the insights in this article would seem to be intuitive but that of course goes against the grain of the hopes for hybrid working pitched by so many….

U.S. survey suggests that women who left the work workforce during WFH are starting to return

Oxford misfires on its welcome back to the office signage

U.S. markets probably a cycle ahead of Toronto’s return to the office but employers forced to be creative in persuading workers it’s a good idea to come back

Texas always bigger than life size – claims most progress on return to the office

“The Occupancy Index is supported by the City of Toronto, Financial District BIA, Bloor-Yorkville BIA, The Waterfront BIA, Downtown Yonge BIA, St Lawrence Market BIA and Toronto Entertainment District BIA. It is a measure of the percentage of office employees returning to the office compared to the number of employees who would normally have come to their offices pre-COVID. For a detailed description of the calculation please contact Iain Dobson at [email protected],”