Vacancy Rate In Downtown Pittsburgh Is Close To 20%, Up From 5% In 2013

Downtown Pittsburgh, like all other urban centers, has taken a hard hit from the pandemic.

Video Transcript

- Downtown Pittsburgh, like all urban centers, has taken a hard hit during the pandemic. It's meant fewer people coming into offices, cultural events canceled, fewer people shopping and dining in town. During taping of the Sunday Business Page, a real estate lawyer told Jon Delano the downtown vacancy rate is now close to 20%, up from just 5% in 2013.

KIRK BURKLEY: The sector that has given back the most space in the pandemic by leaps and bounds is the technology sector. So tech companies have figured out that they can have many of their employees work from home or work from remote offices that they might scatter around the region and so disperse them out from their downtown core.

- Attorney Kirk Burkley for one says his firm just signed a long-term lease to stay downtown. He says he's optimistic that the worst is over. Watch Jon's full interview on the Sunday Business Page on KDKA's Sunday Morning News.