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What does the future hold for Calgary's empty office towers
CBC
After a year-and-a-half out of the office, many Canadians aren't ready to go back — and they might not ever be ready.
The pandemic has left empty office towers across the country but perhaps no downtown core is quieter than Calgary's.
Roughly one-third of offices in the city's core has emptied out since the price of oil crashed in 2015.
A downtown vacancy rate above that number would be unprecedented in Canada, and one report has suggested it could climb as high as 34 per cent — which could be a North American record for a major city.
Nearly a decade ago, oil companies occupied nearly two-thirds of the city's downtown. Now they occupy half that number.
That exodus was only made worse as COVID-19 sent office workers home, fleeing tiny elevators and crowded conference room tables.
"People are trying to find where equilibrium is as far as work from home and work at the office," says Greg Kwong, a commercial real estate analyst in Canada's energy capital.