Being business owners in the commercial real estate industry over the past 21+ months has been anything but “ordinary”.
The beginning of the crisis brought panic, disbelief, and a tidal wave of activity surrounding rental abatement and government funded business / tenant subsidy programs. As consultants and advisors, we were party to the full spectrum of perspectives that existed across different industries with respect to the best way to manage through the pandemic.
Moving into the late spring and summer of 2020, it seemed that an entire industry developed around products that could filter, clean, or sanitize workplaces. Facility leaders were installing directional signage to ensure that workers “turn left only when you exit your cubicle, don’t exceed 2 people in an elevator, and leave every second seat in the boardroom empty, and above all else, KEEP YOUR MASK ABOVE YOUR NOSE”.
What became apparent starting in January of 2021 was that the workplace would not be an attractive place for anyone until such time as the risks, apprehensions, and regulations, are squarely behind us. No one wanted (or wants) to leave a comfortable home office in favour of an unsafe or highly regulated and sterile environment. The goal of having people come together in the workplace is to foster collaboration, organizational cohesion, and to lift employees’ spirits. However, in the current environment, there is a clear and present danger of mixing people with highly variable perspectives on safety and covid protocols.
While we have not reached a universal conclusion as to the best way forward, we are certain that the way most businesses and organizations interact internally and externally will be improved in the post-pandemic era. Hybrid work. The disappearance of the worst of rush-hour. Flexible schedules. More accommodations for priorities in other peoples’ personal lives. If we can hang on to some of the positive developments that have resulted from the pandemic, the net effect over the long term may not be as bad as some would have us believe.
What we are wishing for in 2022
- A material return of employees to the downtown core. We want to see restaurants busy and downtown businesses thriving.
- A trend back to shopping in brick and mortar retail. We love Shopify, but online shopping does nothing for the vibrancy of cities. We want to see more people on the streets, more young people working in stores, and more activity in our communities.
- Renewed interest in events. Concerts and activities are fun, and life is meant to be fun. Events also bring large amounts of revenue to cities, and they create stronger communities.
- Good health all the way around. We have vaccines. We hope new therapeutics are made available to vulnerable people.
We are grateful for all of the superb people that we have had the privilege of interacting with over the years, and we wish you and all of your families the very best for the Holidays.
Sincerely,
The Proveras Team