Commercial Property is Critical for Communities
The future of development is sustainable, mixed use, walkable communities, and hub neighborhoods that support thriving businesses and residents together. The Covid-19 pandemic has accelerated working from home, but people still need to shop, gather, be entertained, and support their local arts community. As we look towards recovery it’s important to understand and prepare for how commercial real estate will emerge from the pandemic.
The Center for Housing Economics is working on fielding a national survey to measure the impact of Covid-19 on commercial property, in particular the unpaid rent caused by lockdowns and business closures. A version of this survey has already been completed in Hawaii and provided vital information about how the pandemic is impacting businesses.
“Hawaii Rent Relief Effort Needs To Be National,” Forbes, November 20, 2020
Commercial property owners nurture, incubate, and help grow a diverse range of businesses. From small startups, to restaurants, to large scale manufacturing ventures, commercial property owners provide homes for all types of businesses.
Together, commercial property owners, multifamily housing providers, and those that do both are the future of our cities and communities. The Center for Housing Economics sees the connections and will advocate for policies and programs that support and enhance the success of commercial real estate as part of a vibrant housing market.