The Real Estate Roundtable, a group including major real estate firms such as Brookfield Properties, Blackstone, Empire State Realty Trust, Starwood Capital, as well as multiple major banks and CRE professional organizations, recently sent a letter to President Joe Biden on the implications of remote work within the federal government.
The roundtable expressed concern that the work-from-home trend in government would upset the commercial real estate industry in the Washington D.C.-area along with the local economy. “We … respectfully urge you to direct federal agencies to enhance their consideration of the impact of agency employee remote working on communities, surrounding small employers, transit systems, local tax bases, and other important considerations, along with the direct effect on governmental service delivery and labor productivity,” the letter reads. “In addition, we ask for your support of legislation to facilitate the increased conversion of underutilized office and other commercial real estate to much-needed housing.”
The roundtable’s action came after a General Accounting Office report from September said that based on a survey most agencies were planning significant reductions in the space they use.
Empty buildings lead to reduced economic activity in the form of less foot traffic to restaurants, stores, and entertainment venues. This in turn means less money for taxes that pay for city services and infrastructure. This downward spiral also leads to falling property valuations.
One option to halt such an economic slide, the roundtable wrote, would be to expedite conversions of under-used office space to housing, which is in short supply in many urban regions including the nation’s capital.
Related Stories
| Nov 18, 2014
New tool helps developers, contractors identify geographic risk for construction
The new interactive tool from Aon Risk Solutions provides real-time updates pertaining to the risk climate of municipalities across the U.S.
| Nov 10, 2014
5 guiding principles for solving airflow issues in open-plenum office spaces
Although architecturally appealing, exposed ceilings can create unwanted drafts and airflow problems if not engineered correctly. McGuire Engineers' Bill Stangeland offers tips for avoiding airflow issues on these projects.
| Nov 5, 2014
Survey: More than 75% of workload takes place without face-to-face interactions
With the rise of technology, much of the workday—even the most productive morning hours—is spent corresponding via email or conference call, according to a recent survey of corporate workers by Mancini•Duffy.
| Nov 3, 2014
An ancient former post office in Portland, Ore., provides an even older art college with a new home
About seven years ago, The Pacific Northwest College of Art, the oldest art college in Portland, was evaluating its master plan with an eye towards expanding and upgrading its campus facilities. A board member brought to the attention of the college a nearby 134,000-sf building that had once served as the city’s original post office.
Sponsored | | Oct 23, 2014
From slots to public safety: Abandoned Detroit casino transformed into LEED-certified public safety headquarters
First constructed as an office for the Internal Revenue Service, the city's new public safety headquarters had more recently served as a temporary home for the MGM Casino. SPONSORED CONTENT
| Oct 19, 2014
White House Visitor Center reopens in Washington, D.C.
Designed by SmithGroupJJR and Gallagher & Associates, renovated center shows public its unique role as office, stage, museum, park, and home.
| Oct 16, 2014
Perkins+Will white paper examines alternatives to flame retardant building materials
The white paper includes a list of 193 flame retardants, including 29 discovered in building and household products, 50 found in the indoor environment, and 33 in human blood, milk, and tissues.
| Oct 15, 2014
Harvard launches ‘design-centric’ center for green buildings and cities
The impetus behind Harvard's Center for Green Buildings and Cities is what the design school’s dean, Mohsen Mostafavi, describes as a “rapidly urbanizing global economy,” in which cities are building new structures “on a massive scale.”
| Oct 14, 2014
Proven 6-step approach to treating historic windows
This course provides step-by-step prescriptive advice to architects, engineers, and contractors on when it makes sense to repair or rehabilitate existing windows, and when they should advise their building owner clients to consider replacement.
| Oct 12, 2014
AIA 2030 commitment: Five years on, are we any closer to net-zero?
This year marks the fifth anniversary of the American Institute of Architects’ effort to have architecture firms voluntarily pledge net-zero energy design for all their buildings by 2030.