Mayor Adams: Slow return to offices will complicate NYC’s economic recoveryBy Bernadette Hogan and Nolan Hicks
April 28, 2022
The Big Apple’s road to recovery will be long — and complicated.
City Hall projected in budget documents released this week that it expects at least 20 percent of the five boroughs’ office space will remain empty through at least 2026.
That’s double the pre-pandemic vacancy rate, which sat at about 10 percent — and the first time the vacancy rate has soared above 15 percent for a sustained period of time since the crippling recession of the early 1990s.
And Mayor Eric Adams told The Post’s Editorial Board on Wednesday that ongoing resistance from employees to returning to working in Manhattan’s massive office towers will complicate the city’s rebound from the coronavirus pandemic.
“We know post-COVID we’re going to be dealing with a different universe, may go to a four day work week for some,” Adams told the paper.
“It is a real concern,” he added. “We’re going to have to get to the table with all of our business leaders, our economists — and really, we can’t stumble into post-COVID.”
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Source:
https://nypost.com/2022/04/28/mayor-adams-slow-return-to-offices-will-hurt-economic-recovery/