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One possible reason might be commercial real estate investments made by decision makers, who need these properties to remain valuable.
by Tade0 2y ago
One possible reason might be commercial real estate investments made by decision makers, who need these properties to remain valuable.
- i_am_jl 2y agoThe chain is a little longer, and a little less intentional, IME. CRE firm lobbies local politicians that remote work is killing Main Street. Local politicians attach tax breaks/incentives for companies with office workers. Companies mandate RTO to save some tax money while unwittingly being a toadie for commercial real estate. The key difference being that the people mandating RTO aren't biased because of their own investments in CRE.
- kridsdale3 2y agoAmazon does own (what feels like) half of downtown Seattle. I think in this case they do have a strong 1st party incentive.
- ambicapter 2y ago> Local politicians attach tax breaks/incentives for companies with office workers. Has that actually happened?
- ghaff 2y agoCertainly tax breaks related to local employment have been a common thing in the past. Whether this is related to any current RTO activity I have no idea.
- ghaff 2y agoI do think there's probably a lot of political pressure on employers to not just abandon downtowns. And some do outright own a lot of real estate which puts them in a somewhat difficult position of probably writing down investments. But my first-hand observation in that employers who lease are just not renewing in at least a number of cases.