- Feb 17, 2020
- Reaction score
They have basically our whole inventory in empty space! It's wild!I don't want to say that we're doing "good", but that chart really does put the office vacancy rate into perspective and it's a bit comforting that bigger cities like Houston and Atlanta are dealing with the same issue.
That Calgary number is wild. I would have thought we were a lot closer in vacancy but not that different. The linked PDF has Calgary's downtown inventory at over 40 million Square feet vs our 16; having a third of their downtown empty is brutal.
I think this is an opportunity for Edmonton to focus on boosting residential and mixed use developments, that will be far more sustainable and add to vibrancy in the long term.
If I had to put my bets on, I'll say that in some 20-25 years our downtown will be far more vibrant and interesting than Calgary's. Maybe not a skyline as tall and impressive, from a distance, but much better street life.