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Office space and office building development in Greater Victoria/south Vancouver Island


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#541 Victoria Watcher

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Posted 27 February 2024 - 10:27 PM

Never underestimate the governments desire for brand new office space - as they WFH.
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#542 AllseeingEye

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Posted 28 February 2024 - 12:16 AM

Mrs ASE who is a senior talent manager for a very large foreign-based multinational firm, mentioned the other day that the Canadian HO which is here, has been advised by the US parent that the d/t office in Victoria in all likelihood will not renew its lease in spring 2025. It may even consider breaking the lease before then. Currently on average out of a couple hundred + staff only a handful these days actually show up at the office (that includes my wife, by choice) while the rest WFH.

 

Obviously I am not going to divulge who they are but in terms of scale it means several floors in a major office building will in all likelihood be vacating in just over a year, if not sooner. Scope-wise in terms of numbers its analagous to my old gang at Maximus Canada, where 260-odd of us moved over to Pac Blue Cross Solutions while the remaining Maximus staff bailed on the Birks Buidling Yates St office space in favor of more modest, much smaller digs at the Atrium. At this time at Pac Blue we are only required to be physically in the office 2x/month; IMO WFH isn't going away any time soon.


Edited by AllseeingEye, 28 February 2024 - 12:17 AM.

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#543 Mike K.

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Posted 28 February 2024 - 06:34 AM

Yup, that’s terrible for downtown.

But it’s obvious what’s happening. People don’t want to be downtown any longer. Or on the periphery, especially the Douglas strip. Same problems as in downtown.

I wonder what’ll happen with the HSBC space on Douglas. If that space becomes vacant it’s not going to be easy to fill it.

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#544 spanky123

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Posted 28 February 2024 - 08:37 AM

I know of another 100+ employee multinational planning to close their office here as well this year. In this case however many of the employees are also being let go as much of the work is in customer service which can now be done in lower cost regions supported by AI.

#545 Nparker

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Posted 28 February 2024 - 08:43 AM

More good news from the world of AI!  :thumbsup:



#546 Mike K.

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Posted 28 February 2024 - 08:59 AM

What’s the verdict on the upcoming $100 million West Shore RCMP detachment? Will it also see the move of the Nanaimo Street RCMP HQ over to the West Shore? The HQ building isn’t getting any younger, and parking is a big issue with a protected lot at-capacity. Workers have to play the on-street merry go-round if they can’t get a spot in the compound. That doesn’t make for happy commuters.

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