Has Covid Killed the CBD as We Know It?
The dawn of 2021 saw many Australians slowly return to traditional offices on a more regular basis. 2020 flexible working options shifted from “only needs basis” to an allocated commitment of days per working week. The one-foot-out-the-door return to physical work serves multiple purposes:
Reinvigorating what may have become a stagnant work and collaborative culture
Practice of good habit and work ethic hygiene
Serving as accountability, for both employers and employees
If one thing is certain, the ability to work from home will remain a permanent fixture of workplaces. This preferred flexibility was forecasted by many businesses as we note a decline in permanent work spaces (50% occupancy of commercial spaces) and an increased in services and shared co-working set ups.
The urban sprawl trend was spearheaded as a result of the pandemic. Both work and play have migrated away from a previously concentrated CBD. There is now a call by government and residents alike to reimagine the purpose of our CBD, with another $20Million committed to the Sydney CBD in an effort to lure business back to the area. Ideas to reinvigorate the CBD sit firmly around introducing more residential opportunities into the area, much like New York and Hong Kong. A focus of transforming the CBD into a family friendly cultural hub could be a long term strategy to entice a more consistent stream to visitors to the CBD.
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