Mixed uses and office conversions: A possible future for urban cores?
BNN Bloomberg
Some new projects suggest there is room to build more livable communities in office-dense neighbourhoods, with a major mixed-use building in Toronto and office-to-residential conversions in Calgary set to put that idea to the test.
Some new projects suggest there is room to build more livable communities in office-dense neighbourhoods, with a major mixed-use building in Toronto and office-to-residential conversions in Calgary set to put that idea to the test.
DOWNTOWN PATTERNS, MIXED-USE BENEFITS
Recent data from CBRE Canada pegged the country’s overall office vacancy rate at an all-time high of 17.7 per cent in the first quarter of 2023. Their report framed the trend as a “once-in-a-generation evolution” driven by new hybrid work realities, with people spending less time commuting to their office desks. The pattern has sparked fears about the recovery of downtown cores and the businesses that serve the workday crowds.
