Offices are empty, renters are fleeing — so why is this developer building a massive two-tower skyscraper at King and University?
by from on (#5E4NY)
Urbanites are fleeing locked-down cities. Office towers are deserted, with the highest vacancy rates since the financial crisis. Downtown-condo investors face plunging rents and property values. None of this worries Michael Cooper, CEO of Dream Office REIT, the developer behind the Distillery District and numerous downtown office towers.