Links to Articles of Interest
Shifting Travel Patterns in Downtown Vancouver Keeping Restaurants in the Red
Although Vancouverites have rediscovered downtown post-pandemic they are visiting less often and spending less in response to rising food prices, a new report by the U of T’s School for Cities has found. The report, which compares recovery rates among hundreds of downtowns across North America, places Vancouver ahead of Toronto, citing the benefits of a large resident population downtown. Restaurants and entertainment venues remain the hardest hit.
Foot Traffic Higher in Pricier Digs? Amenity-Rich Offices Generate More In-Office Activity
Although not a scientific assessment, a report from New York that looked at 25 buildings with highest rents suggests that employers’ expectations for investing in the quality of office space pay off in terms of workers showing up in-office.
Office Utilization Across U.S. Federal Government Barely in Double Digits
A new report from the Public Buildings Reform Board suggests that government leaders are not pushing employees to return to their offices. Some buildings in Washington D.C. have 12% occupancy.
Manhattan Landlords Struggling as Employers Reduce Office Footprint
Availability is uncomfortably high suggest some landlords, although the numbers cited include older, less competitive buildings.
WeWork Close to Emerging from Bankruptcy – Puts a Brave Face on Its Future
By significantly reducing the number of locations across the world from 500 to 300 plus or minus, WeWork expects to be ready for a more positive future, reports suggest.
“The Occupancy Index is supported by the City of Toronto, Downtown Yonge BIA, and Downtown West 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],”