06-01-2020, 04:37 PM
(06-01-2020, 03:39 PM)Momo26 Wrote: No company or person could have reasonably predicted the magnitude of the pandemic and no one knows for certain what the future of workplaces will look like. If current dialogue holds true though, tech (and office type) companies are going to *need* far less real estate (adopting more flexible and WFH solutions).I doubt you will see much adjustment to under construction office projects. Future projects might be reorganized, changed, downsized etc. but companies for the most part had shifted to really cramming in as many people as they could into their office space.
How do you think Google now feels about this project? Who's the developer and actual building owner...Google? Or just the entity leasing? Will Google now look to share if their Kitchener office-based workforce is not going to be as big?
In the wake of covid I think it will be likely that there will be a return to private offices and cubicles, something that was on the decline, as well as more spacious floor plans and arrangements, meaning companies will actually need people to work from home anyway to accommodate the now lower capacity of their existing space. Hence I dont think we'll see much change here.
Additionally I think I saw something the other day that said, only about 20% of people actually want to continue to work from home. Getting out of the house, keeping your work and personal life separate, seeing other people and so on, are all big draws of office space, and many people want or need that socialization and distance in their lives.
So in short, I dont think office space will be affected nearly as much as people expect.