Quote:
Originally Posted by vexxed82
I'm good at taking photos of architecture, but understanding its associated real estate is not my forte.
Can someone explain to me how/why developers are planning on building any new office towers in this environment? With all the new office space coming online (110, BMO, Salesforce, Post Office, etc.) and how our society has successfully (not in all cases, obviously) learned to work from home, what's the rush to build new office space before knowing what the future work environment will look like?
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Most of those started the planning process well before covid hit, I suppose the developers also assume that this won't last forever and it'll be nice to have a shiny new office tower to move into when it's all over. Perhaps ego is also involved / having a trophy tower to show off
. While working from home will be more popular I don't know if it'll completely reshape how people work entirely. A lot of companies want people on site and hate WFH.
This is just my guess, I too am surprised by how many office towers are going up. It's even crazier in NYC.