We spoke to two real estate experts about the future of office work in downtown Vancouver
Office occupancy rates are on the rise, but they are still much lower compared to pre-pandemic levels. Looking to the future, many companies are seeking ways to further increase these numbers and understand what makes the in-office experience valuable to
employees.
We spoke to two experts on the topic of returning to work in Vancouver, and what the trend means for the future of office work.
“There’s a definite trend in coming back to work,” says Blair Quinn, Vice Chairman at CBRE Vancouver. “It’s often led by larger tech companies — but it’s all across the board, every industry. Companies are seeking increases in productivity and culture and are looking for creative ways that make it easy and appealing for employees to come to the office.”
To encourage a higher turnout, companies are looking for high-quality office spaces that foster productivity, communication, and team collaboration. Put simply, they want to create offices that help employees enjoy coming to work on a routine basis.
“We are seeing a trend of smaller companies coming back from a remote environment to the office,” Quinn explains. “What they’re really all striving for, and this is a phenomenon across North America, is ‘best-in-class.’ If they’re going to open an office, they want the highest and best quality — better windows, better amenities, better air.”
“There is an increasing focus on what office space can do for employees. Proximity to major transportation networks hubs and public transit is top of mind for most companies, and it’s certainly a top priority for us” says Kathy Yu, Director of Leasing at Vancouver–based PCI Developments.
“Companies are also considering how the daily needs of their employees can be met, whether it’s through proximity to restaurants, shops, and services, or direct access to best–in–class amenities like fitness centres and recreational areas.”
Without a doubt, the pandemic resulted in great advancements in technology and the ability to work remotely. However, 100% remote working is not possible for every company and industry — it’s not one size fits all.
“Companies are beginning to zero in on what that balance looks like for them,” says Yu. “We are seeing tenants investing in higher-quality, right-sized space.”
Vancouver’s Waterfront Hub has been thoughtfully designed with all of the above in mind, created to meet the diverse needs of different companies. Located directly across from Waterfront Station, it encompasses 601 West Hastings, one of downtown’s newest office developments with its striking plaza, and the recently renovated 333 Seymour, which features a brand new podium with Deville Coffee and a state-of-the-art fitness centre for the office tenants.
The two buildings also share access to a private rooftop lounge and conference room amenities, secured bike storage, and end-of-trip facilities. The world-class seawall along with a multitude of restaurants, shops, and services are within walking distance.
Waterfront Hub/Rod Sanchez
The unparalleled work environment with easy access to regional transportation and amenities means a shorter commute time, making it easier for employees to come to the office. And, being in the heart of Vancouver’s downtown core, tenants also get to enjoy a vibrant and energetic atmosphere all day long.
“We have a 3,500-square-foot rooftop lounge [that] features this indoor-outdoor space with stunning views of the harbour,” says Yu. “It’s the perfect place to host company events or summer socials.”
601 West Hastings, the newer of the two buildings, is LEED Gold certified and boasts sustainable building systems with high-efficiency performance. It’s also got stunning views and boutique floor plates, featuring an efficient perimeter core design and high-quality office build-outs — all of which have attracted some of the world’s most forward-thinking companies.
The boutique floor plates at 601 W Hastings offer incredible opportunities for small businesses to occupy their own floor in a brand-new downtown Vancouver building. Tenants can also access design assistance to ensure their new office space meets their needs as an attractive in-person work environment.
“We’ve taken the risk off the table for tenants who would otherwise need to build a space from scratch. The timing and construction-cost risks can be a significant concern for them, especially in this environment.”
For companies seeking move–in ready space, turnkey options are also available at 601 W Hastings on select floors.
To find more information about Waterfront Hub, or to schedule a presentation or tour, click here.
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