Average weekly - 77%
Peak Day - Wednesday 85%
Low Day - Friday 52%
The Index has resumed its upward climb, albeit slowly. Data from the early part of April indicates the trend to returning to the office will continue especially in sectors where a competitive job market exists. In the institutional sectors the amount of in-office work has levelled off significantly. The uncertainty around the economy and the future stability of employment may be having an impact on the amount of in-office work for those at risk. It is too early to tell if this is a lasting trend.
As we stated in the last Index congestion on roads will not abate on its own or as a result of an economic downturn. The City of Toronto has taken well placed steps to mitigate traffic delays, but more work is needed and continues to be a priority. As was stated in our Forum in January significant relief from congestion only comes with more efficient, convenient and reliable transit.
Your SRRA Team,
Links to Articles of Interest
Understanding Post-Pandemic Working Norms – The Results Are In
An international design firm serving the needs of landlords and companies on multiple continents, Gensler’s Global Workplace Survey of more than 16,000 office workers “to better understand the future of work” identifies three key insights: 1) Despite best efforts, little progress has been made to improve the quality of post-pandemic workspaces. “A workplace that doesn’t work is not really a workplace,” the authors conclude. 2) “Only 14% of the global workforce desires a traditional corporate workplace experience. There has been a shift to experiences that feel connected to nature, inspiring, and experimental” – a finding that applies to workers of all ages. 3) A majority of respondents are keen to foster more in-person work. “More than two-thirds (68%) of respondents say that working in the office positively impacts their connection to a shared mission or purpose, a key reason to work together.”
Well-Designed High-Density Cities and Public Health Show Solid Links
A new publication focusing on the quality of urban design solutions, “ArchDaily” argues that a money spent on improving quality of life in a well-designed built environment delivers a positive ROI. “In the context of planning for urban living, health extends beyond physical well-being; it includes mental resilience, social connections, and environmental factors, all of which influence daily life. Health issues can be amplified in high-density cities through poor air quality, high stress levels, social isolation, or limited access to green space,” the authors suggest.
Big Box Retail Developed Less Than a Decade Ago To Be Replaced By Condos
A big box project developed by Build Toronto only a decade ago, close to the soon to-be-redeveloped Downsview airport site, is to be replaced by a massive cluster of tall condos, with more than 2,000 units (60% of which are one bedroom). Five towers, the tallest of which is said to be 49-storeys, are backed by Insurance giant Manulife as the major investor. Future residents will be able to choose between using the Wilson subway stop or driving on the 401. Less than one third of units suitable for families.
Six Massive Towers Proposed for a Small Field in Vaughan
City Park Homes has launched a bid to build six tall towers in a field and ravine site in Vaughan. Originally to be redeveloped through a controversial MZO, the project has since been “scaled back” and will only be “29, 28, 28, 26, 22, and 22 storeys,” though this is considerably taller than the single-family houses that are the nearest neighbours.
Questions Raised About Therme’s True Track Record
A recent article in the New York Times puzzles activists seeking information about the future of Ontario Place. The article claims that Therme misrepresented itself to everyone as a successful player in the luxury spa industry, with one not six successful operations. With a Ponzi-like skill, Therme’s reputation appears to be based on sand, not concrete, raising questions about the value and future of long-term leases signed with the province.
Foot Traffic Higher for AAA Offices in Manhattan, Lower for the Also-Rans
A new study suggests that there continues to be a great division between the trophy office buildings and older less attractive tenancies in Manhattan. The adage “location location location” is still holding true the study finds, but the qualities that define location are changing.
Oops! U.S. Government Accidentally Publishes Secret Plans to Undermine New York’s Congestion Pricing
Although only online briefly, the snafu – a secret memo critiquing strategy to block Manhattan congestion pricing – suggests that the Trump administration is working behind the scenes to kill the scheme.
“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],”