Bridget Reed Morawski
WASHINGTON — (WMAL) The Washington Metro region is experiencing the lowest level of commercial construction in 35 years, according to a new report by the Metropolitan Washington Council of Governments.
Between 2014 and 2015, commercial construction rates had declined by 35 percent. The region also experienced the highest rate of office space vacancy in 20 years, at almost 15 percent.
The only type of commercial property to experience an uptick in construction rates was for industrial property, predominantly warehouses and data centers.
The record figures can be partially attributed to the downsizing in the downsizing of the footprint that workers are occupying, according to Paul DesJardin, the Director of Community Planning and Services with MW-COG. Telecommuting and the increase of “hot desks,” or desks occupied by multiple employees at different times, are also decreasing the need for enormous office space.
Could large, looming office spaces be going the way of the dinosaur? The market seems to be saying yes, according to the COG report. There’s growing desire for mixed use communities where people can live, work, and play in the same neighborhood – or even building. WM-COG believes that this type of development, also known as activity centers, are “critical” for guarenteeing the future competitiveness and liveability of the Washington region.
“That’s one of the things that we’re encouraged by, and the market seems to be responding, for mixed-use communities like that,” said DesJardin.
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