Telework Impacts on the Real Estate Industry in Alberta

Location: Alberta |  Client: AREF (Funder), SAIT (Partner)  |  Client type: Real Estate / Academia

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THE OPPORTUNITY

The COVID-19 pandemic and the rise of remote work have significantly impacted Alberta’s real estate industry, altering downtown cores, zoning regulations, and the use of commercial and residential spaces. Municipalities and industry stakeholders face challenges in adapting to these changes due to existing knowledge gaps. Working in partnership with the Southern Alberta Institute of Technology (SAIT) and funded by the Alberta Real Estate Foundation (AREF), RFS Energy led research supporting the real estate industry and municipalities in navigating these shifts and making informed decisions for the future.

OUR APPROACH

SAIT and RFS Energy set out to research the impacts of telework on the Alberta real estate industry by examining the transformations occurring in communities across Alberta due to the increasing number of people working from home. Specifically, we focused on analyzing the trends in the commercial and residential real estate markets and their implications for suburban areas and downtown cores. This was done through:

• Data Collection:

  • Literature Review & Gap Analysis - Conducted a comprehensive literature review of over 50 sources during the early stages of this project to gain an understanding of existing research on the topic of telework and the real estate industry. A gap analysis was then done to compare existing practices with potential changes.

  • Stakeholder Outreach - Extensive engagement with stakeholders through 20+ interviews with real estate professionals and municipal representatives across Alberta, consultation with a municipal working group made up of 20+ municipalities from 7 provinces over 6 sessions, a focus group involving 16 real estate professionals from the Calgary area, attending 2 industry events, and distributing surveys centred on commercial and residential real estate market trends, particularly in suburban areas and downtown cores.

• Trend identification -  Identified patterns and common themes with data collected from interviews, focus groups, and engagement sessions, as well as from the topic research.

• Final Report - Created a final public report delving into the impact of telework on various facets of work, real estate, and the urban landscape in Alberta. It uncovers the shifting dynamics brought about by telework – including the challenges and opportunities faced by the real estate industry – and sheds light on the evolving preferences and needs of individuals in their work and living spaces. Read the full report here. 

• Website design - Designed a visually engaging, user-friendly, and informative website to showcase the research findings and trends related to telework’s impact on Alberta’s real estate market. (insert photo and link)

OUR IMPACT

Through this project, we investigated the impact of telework on various aspects of work, real estate, and the urban landscape in Alberta, allowing us to assist real estate professionals as they navigate these obstacles and adapt to the new telework era. It highlights the evolving nature of telework, its effects on where people live and work, the challenges and opportunities it presents for the real estate industry, and the changing dynamics of how people work and use spaces. This project has not only helped us advance our understanding of this topic but has also paved the way for new information in the ever-changing world of real-estate.

Read the full report here and visit our website at www.albertatelework.ca/

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