Tuscani01
Senior Member
If I had a financial stake in some of the most exciting office projects that have been announced but not yet gone to market -- The Hub, Union Centre, and 77 Wade being my personal favourites, followed in no particular order by QRC West II, Portland Commons, 58 Atlantic, Commerce Court III, 391 Adelaide W., T3 Sterling, this one, and a smattering of both smaller projects (like 540 King) and massive projects (like East Harbour) -- I'd still be feeling pretty good about things once the acute uncertainty of the next, say, 18-24 months clears, which also probably aligns with the development timelines many of those projects were on, anyway.
I wouldn't be worried if things did eventually get back to normal, but I can't see things ever going back to where we were. Employers now see that their employees can effectively work from home. This is going to reduce the need for office space. My employer has already said that we won't be going back to normal, which makes me wonder if our new office plans have also been scrapped. That's a potential office tower at Yonge and Eglinton which may have just lost its primary tenant. Even if companies reduce office days by 1 a week, that's going to result in lots of excess space and reduce the need for new space.