Quote:
Originally Posted by christof
The Science Center and Schuylkill Yards construction projects are the canaries in the mine.
You will see what the real economic damage, both short term and long term, that has been caused by the virus lockdown with what proposed construction will actually be completed at both of these sites.
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It's true that there's likely to be a notable changes in what's proposed and what's built at this point, but it's far to early to determine how those changes will manifest themselves. There's obviously a much bigger push for telework now, and much of that will likely end up being permanent, but there will never be a real substitute for in-person collaboration as long as there are human beings--that's just basic fact. In recognition of this, companies will always want to have some type of physical presence; it's just how that must be configured with a mind towards public health in a new post-pandemic age.
In less philosophical terms, less demand for workspace among individual companies is also likely to be offset by the need for more physical distancing space and individualized offices over "hoteling" or "co-working" spaces. That trend will only serve to push overall spaces to the larger side, rather than a trend of overall reduction.
Who knows, it might end up being a "wash" in the long term.