This podcast episode explores the challenges and opportunities facing cities in a post-pandemic world, where remote work arrangements have become increasingly common. The speakers discuss the decline in office occupancy rates and the trend of subleasing unused office space. They suggest that cities need to reimagine themselves as cultural and entertainment hubs, using data to guide decision-making and adapting to a more distributed workforce. Additionally, they discuss the potential future of central business districts (CBDs) and the need to transform them into vibrant and diverse urban centers that offer a mix of residential, commercial, and cultural amenities. The speakers also address the potential transformation of cities as the traditional role of CBDs is challenged, emphasizing the importance of reimagining urban spaces and avoiding drastic measures that could diminish livability. They discuss the future of office real estate investment trusts (REITs) and highlight opportunities in emerging sectors such as life sciences and government-focused REITs. The speakers also explore alternative uses for office buildings, including vertical warehousing and mixed-use properties. Additionally, they discuss the concept of the "15-minute city," where residents can access essential amenities within a short walk or bike ride, and express hope for its widespread adoption in the future.
