Even though Real Estate Professionals have been deemed essential, with strict restrictions in place, it still feels like I am on home restriction.  In this time of exile, I find my mind wandering upon many interesting side effects of this Covid 19 pandemic.  

Of course, traffic is nonexistent with the obvious result of much cleaner air and skies around Seattle.  But anyone think about the long-term impact this may have on the core of our cities?  One thing we have proven without a shadow of a doubt is that many companies can survive, and even prosper with their employees working from home.  

I can’t imagine that more than a few scrupulous managers, CPA’s of companies are wondering exactly why they are leasing all of that prime office space downtown, when perhaps they could fully function with a fraction of the space and save significant dollars.  I would speculate even as I write this a few are already looking at this with serious thought.

Further incentive comes in the forms of additional taxes many cities wish to impose on businesses, restrictions of traffic lanes to and from the city (intentional and not). The desire for both families and companies to get away from the homeless crises where it is impacting many neighborhoods and businesses, with no proposed viable solution in sight.

Throw in there, the added benefit of saving on parking fees, eliminating most commute times for employees freeing more family time, better for the environment… feel free to stop me any time.

Looking at this, it is relatively easy to visualize a future where the core downtown is not as critical location as times past. Perhaps for sports, arts and entertainment, tourism, yes.  But the necessity to be there five days a week will certainly diminish.

Like the restructuring currently being experienced by our malls, I believe you will see the role of the city change.  This pandemic has just brough to the forefront the stark contrast that may be on the horizon.

Food for thought!

Fred Doner
The Doner Group
206-551-0070