April 12, 2022

Quartz: What’s in store for empty downtown office buildings?

media mention

Even as business districts start to recover, Gallup estimates that 37% of current office space in the US is likely to be abandoned as workers switch to remote work. That could slash cities’ tax revenue and economic activity. A study of eight cities from the Institute on Taxation and Economic Policy found that lost tax revenue from commercial properties could lead to budget deficits of between 5% and 7%. Read more