The future of city centers
The Covid-19 pandemic has had an impact on the whole of society, from a health, social and economic point of view.
The Covid-19 pandemic has had an impact on the whole of society, from a health, social and economic point of view. It has devastated town centers. Some are even completely deserted.
In Montreal
As Jean-François Grenier, Senior Director at Altus Group, explained during the Vivre en Ville virtual meetings, downtown Montreal accounts for 20% of jobs in the Montreal census metropolitan area. But even today, with office closures, telecommuting and tourist restrictions, it’s hard to keep the town center alive.
Recently, with the reopening of shops, we’ve seen a return of shoppers to the stores. Public transport to the city center is also more crowded.
What’s more, to bring visitors back and make it more attractive, the city of Montreal is introducing a number of new features.
This winter, for example, we set up Luminothérapie, an outdoor light trail in the Quartier des spectacles. Discover interactive, sonic and contemplative works for young and old alike. You have until March 28 to take advantage.
There is still the problem of empty offices.
The future of office towers.
As of today, the vacancy rate for office towers in downtown Montreal is the second highest in the country at 12.8%, behind Calgary at 27% and ahead of Toronto and Vancouver, which have vacancy rates of 11.8% and 9.5% respectively.
They are empty, and in view of the current situation and the many surveys carried out among workers, whether they will ever see employees return.
The telecommuting effect
According to Statistics Canada and a June 2020 report, 40% of Canadians hold jobs that can be done from home. What’s more, many of them would like to be able to continue this practice, or at least set up a hybrid mode, once things have improved.
Living downtown
Even today, the vacancy rate for downtown apartment rentals is high. It has risen from 3.1% in October 2019 to 12.3% in October 2020, according to the project report piloted by the Institut de Développement Urbain (IDU) and Montréal centre-ville.
This is due in particular to the exodus of students from major universities such as McGill, or interrupted temporary immigration flows and declines in Airbnb-type rentals.
Nevertheless, the city center remains the destination of choice for almost 20% of those living outside the city.
And the future?
For many experts, the downtown area will bounce back over time.
The planned opening next year of part of the new REM tramway system, from the South Shore to downtown, will bring some people back.
However, it will surely be necessary to rethink things like more daycare centers, primary and secondary schools in this area, to attract families.