Average weekly - 67%
Peak Day - Wednesday 77%
Low Day - Friday 37%
Office attendance reached two/thirds of pre-pandemic levels for the first time since the outbreak of COVID. This benchmark may very well be the standard throughout the summer. Companies continue to adjust in-office policy to balance culture and productivity with the personal benefits of remote work enjoyed by their employees.
We have received numerous comments about the daily commute. They highlight road congestion as the number one issue, whether is by bike, bus, subway, car hire or personal automobile travel, commute times appear to be rising. More and more of you say it’s a major inhibitor for those who can choose what day tho come to the office or whether to come at all.
SRRA is continuing research on reducing congestion and improving the daily commute. Please feel free to send in your comments and thoughts on these important challenges facing the region. They will be treated in confidence and are very much appreciated.
We will be highlighting some of the research throughout the summer….
Your SRRA team
Links to Articles of Interest
Check Your Calendar! Yes, it is Indeed 2024 – JPMorgan Chase To Double Its Office Footprint
Perhaps the location is the difference? The planned expansion to accommodate 400 employees is happening in Florida’s West Palm Beach!
The GenZ Generation May Be Misunderstood
People born between 1997 and 2012 have been labeled ‘GenZ.’ Experts at UBC point out that this is the generation that “grew up completely in the tech age. They not only are skilled with it but understand how to create it. That makes them critical as developers and researchers,” one expert points out. “Forget about clichéd attempts – like casual Fridays or pizza parties – to support teams and build culture. Gen Z tend to be entrepreneurial, so appeal to their desire to learn and grow in their careers by assessing their needs, having open conversations about what they want and providing them with the tools to get there.” Sounds like a plan.
Here’s My Honest Appraisal of the Situation – Appraisal Techniques Under Scrutiny
Building appraisals have traditionally been just another chore in the mix of items that influence property and development decisions. Current market uncertainties are putting a spotlight on the appraisal profession.
U.S. Developers Opting for Mass Timber
Claiming that mass timber office buildings are leasing more readily than other more traditional office buildings, the key according to Hines and Howard Hughes Holdings is that mass timber is securing premium rents – even in locations where the rest of the office market is in the doldrums.
Ontario Line Budget Skyrockets?
Construction costs for the Ontario Line are already ballooning but is anyone keeping tabs on the costs incurred by businesses affected by construction tangles. Is the Toronto equivalent of the Big Dig? The difference in Boston was that the U.S. government picked up most of the tab. Check out SRRA’s ideas for providing better mobility through “quick relief.”
“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],”