A few thoughts on the future of office space
The debate about the future of office space in a post-COVID world is far from over. At the beginning of the pandemic, the “this will change everything” crowd was pitted against the “a return to normal is inevitable” crowd. As scores of people found themselves working from home, some shared how efficient their new situation was while others lamented the loss of in-person culture and creativity. Others realized working from home in a shared space with family might not be compatible with productivity or efficiency at all!
Last month, I was speaking with a journalist about our work to repurpose office buildings into residential towers. The context of his story was the changing demand for office space and how real estate companies such as Strategic Group adapt. As I told him, I do not see the post-COVID world leading to a major emptying of office spaces in favour of company work forces working exclusively from home. Instead, I think it is much more likely that companies will continue to need the office footprint they currently have—if not more! Rather than abandon the traditional office, they will adapt their office spaces to make them safer spaces in a world where COVID (and perhaps future viruses) is part of the landscape. As usual, the real future will be one of balance and incremental change.
This article from the Wall Street Journal is an interesting entry in the discussion about how everyone working from home may not be the future of work. Here is a PDF for those who do not have a WSJ subscription.
Hofer's Business Consulting Solutions, Specializing in Automotive
4 年The new Office Space look in the future should be looking into Office Space with a small Living space for the new young work force of the future. Think the way they are thinking. Convenience, efficiency and time.
Entrepreneur, Builder, Board Member, Speaker #Execution, #Entrepreneurship, #Mental Health, #Drones, #AI, #BlockChain, #Product Development
4 年I agree. This disruption or “new reality” is creating maybe the greatest real estate opportunity ever? For likely the first time in real estate history at scale and across all markets supply has a new leading demand generator - health. To be mentally healthy people need to interact and office space (or any space) that allows people to do this will require more sq ft / person as well as command higher premiums because of health safety features like specialized ventilation, virus “resistant” surfaces, automated health scanning, even health services. Make the work place safer than the home and commercial real estate will boom.
Manager at The Fire Industry Repair & Maintenance
4 年Well said Riaz
Financial Planner at TD Wealth Financial Planning
4 年Couldn’t agree more! Maybe we needed a “COVID” to prepare for the future by catapulting advances in technology. A virus free building? Nothing is impossible.