Studying the impact of COVID-19 on the Commercial Real Estate Industry

Building Owners and Managers Association (BOMA) Calgary

Total Funded: $60,000
Location: , Alberta

The Calgary Commercial Real Estate industry needs an updated economic impact analysis. Since the last analysis, more than 10 years ago, much has changed in the market. The COVID-19 pandemic and a sustained slump in the price of energy have impacted lease and vacancy rates.

Through an economic impact analysis, this study will establish a baseline understanding of the current state of commercial real estate in Calgary. The research will be used to guide policy and legislation within the industry, and with decision-makers.

BOMA Calgary is also undertaking a comprehensive survey of the perceptions and attitudes of commercial landlords and tenants, which will feed into this study.

In the short term, BOMA Calgary aims to create a road map to recovery, identifying and keeping track of key data points over time. In the long term, they aim to establish a census-style research database. This research will extend to Edmonton in partnership with BOMA Edmonton, with plans to expand to the broader commercial sector in Alberta.

Real Estate Leadership – Advance the real estate industry as it recovers from the COVID-19 pandemic through research and/or implementation of policy, practices, or educational initiatives.