Increasing Occupier Densities Challenge Landlords & Buildings

Meeting Minutes from March 4th Event
Generously provided by Greg Durkin and Joan Eldin of Stamford Office Furniture

For those who braved the weather Wednesday, we think we speak for all in that it was one of the best recent programs. Since several people asked us for our notes, we offered to type them for the entire membership.

• Density increasing because tenant is driving lower cost! Collaboration is not the primary objective.
• 1970 Average space per person 500 Sq Ft
• 2014 Average space per person 135 Sq Ft
• 2014 Average space per trader 100 Sq Ft
• 2000 Average number of parking spaces per 1000 Sq Ft: 4.5 max
• 2014 Average number of parking spaces per 1000 Sq Ft: 3.0. At 70% occupancy, parking becomes issue especially on Monday.
• Higher density requires developers to respond to:
  • Parking Capacity
    • Valet increases capacity approx. 20%
    • Rent from neighbors: churches, apartments, etc.
    • Shuttle Buses
  • Elevators Usage. Faster and better programming for efficient use.
  • Bathroom Usage. Traders are mostly male which makes issue worse in financial services.
  • HVAC loads due to more VOC and Carbon Dioxide
  • Electric Loads on one hand reduced by Cloud but on other hand increased by higher head count.
  • Larger and More Amenities
    • Fitness Rooms – lockers, showers, treadmill
    • Community Rooms
    • Training Rooms
    • Cafeterias
    • Enhanced A V Packages
  • Building Services
    • Increase service requests
    • More frequent cleaning especially bathrooms 7x per day
    • Increase security to get visitors signed in; “No lines”
    • More valets to accommodate peak periods at rush hours.
• City of Stamford
  • Does not want freestanding 3rd party garages
  • Very reactive to latest issue De Jour on one hand
  • On the other hand flexible if proposal makes sense.
• Some tenants requiring landlord to guarantee the building will not accept high density tenants.
• Panel was not sure if trend had gone too far in that ones ability to concentrate and work is very difficult at 135 Sq Ft per person.
• Mixed-Use: Commercial/ Residential or Commercial/ Hotel is a solution for new construction because parking spaces can be utilized for both uses.