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VMC with condos under construction

Transit-oriented Suburbs are a Sweet Spot for the Post-Pandemic Office

Experts pointed out that within suburbs, certain nodes have an especially strong value proposition: transit-oriented communities. They offer urban amenities plus great access to the suburbs and downtown, allowing investors and tenants to get the best of both worlds.
Dusk image of VMC with TTC station

The office real estate market has been subject to much discussion over the last year. As vaccine rates increase and COVID-19 cases subside, optimism is starting to take hold. However, no one knows for certain exactly how the future of work will translate to the future of the office, especially for central business districts like downtown Toronto where, at the onset of the pandemic, many professionals transitioned to remote work, moved to the suburbs (or further afield), and don’t know when they’ll be comfortable taking transit again.

While hybrid work models gain traction as the preferred option post-pandemic, a new challenge is emerging. The employees who moved will be hesitant to make the long commute downtown, even if it’s only two or three times a week. In order to retain their talent, employers who aren’t able to offer fully remote work schedules may need to set up a satellite office or relocate to be closer to them. This imminent reckoning has led many to see the suburban office market in a new light.

Full Article: renx.ca