The pandemic and the economy have partnered to deal American cities the most transformative blow since the 1960s when urban renewal policies tore through urban neighborhoods with freeway construction. Workers today are abandoning their in-town offices and despite employers’ best efforts to encourage them back, the emerging reality is that, at best, we may see a 50% to 70% long-term occupancy rate in downtown office buildings.
The magnitude of this change will be devastating to our city centers…
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