Friday, July 5, 2024

Over 5 million sq ft of office space in Metro Vancouver is currently vacant

 https://dailyhive.com/vancouver/metro-vancouver-office-vacancy-rate-q2-2024

Most new office buildings should be designed in a way that they can be repurposed if the need should arise. Besides Honolulu & San Diego, Vancouver has some of the smallest office buildings for a major city. While Honolulu doesn't like their office buildings to have more than 30 floors, Vancouver has never permitted an office tower to have a 40th floor. Phoenix has allowed only one 40 story office tower. 

The big problem is that Vancouver is so far behind with apartment rental and hotel towers.