The movement stems from demographic changes in the work force. For companies seeking younger hires, they need to go to where they prefer to live. Suburban campuses may be replaced by urban headquarters or the addition of satellite offices in cities.
Lauren Weber points to many "corporate giants abandoning vast suburban campuses for urban offices nearer to the young, educated and hyper-connected workers who will lead their businesses into the digital age." While her focus is the Chicago area, she includes examples from throughout the country.
"The showcase headquarters of the past, the beautiful suburban campuses—that's a very obsolete model now," said Patrick Phillips, CEO of the Urban Land Institute, a land-use think tank.
Vacancy rates reflect the "back to the city" movement. In 2013, 13,9% of urban space stood empty compared with 18.5% in suburbs.
"There's increasing evidence that this represents a broad trend among large and middle-size companies," said Enrico Moretti, an economist at the University of California, Berkeley, and author of "The New Geography of Jobs."
For companies who choose to say put, many "are opening or expanding urban satellite offices, especially for technology and research staff working on product development and innovation, according to Mr. Moretti."
Lauren Weber goes into more detail in an audio version of the article with host Gordon Deal of "The Wall Street Journal This Morning" accessible from the article.
The same article also appears in Yahoo! Finance.
Read the full story: Companies Say Goodbye to the 'Burbs
The Crucial Role of Suburban Voters in the Midterms
Suburban voters were instrumental in preventing a 'red wave' on Election Day and on December 6 in the Georgia U.S. Senate runoff election, enabling the Democrats to win a 51st Senate seat.
Chicago Suburbs Luring Back Major Employers
As more workers move away from the central city due to high costs and remote work opportunities, companies that once relocated downtown are eyeing Chicago’s suburbs once again.
Creative Placemaking a Boon for Underserved Communities, Report Says
The work of Chicago urban planner and developer Theaster Gates provides a proof of concept in a new report from the Urban Land Institute.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
California plans to bury El Niño’s downpour
If the state plays its cards right, it may be able to store a billion acre-feet of El Niño’s water in aquifers.
Desperate measures: Advocates weigh draining Lake Powell to fill Colorado River
Draining the reservoir could reduce evaporation losses by a couple hundred thousand acre-feet.
Mamdani’s pied-à-terre tax survives legal challenge
A panel of judges found that the plaintiffs failed to demonstrate injury as a result of New York City's implementation of the tax.
Eastern Nebraska is running out of electricity
Data centers and electrification are straining eastern Nebraska’s grid, throttling economic development.
Seattle passes record-breaking transit services expansion
Proposition 1 will double the city’s transit tax to add 95,000 more bus trips and preserve 180,000 bus trips annually.
FREE Course: Walkable City 1: Why Walkability?
After describing his path towards focusing on walkability as the essence of good planning, Jeff Speck marches through his five principal reasons for making more walkable places.
Reinventing Malls: Planning Alchemy—Turning Gray Fields Into Gold
The course focuses on the opportunities and imperatives that shape reinvention of mall sites.
City of Rosemead
Rutgers University, Edward J. Bloustein School of Planning and Public Policy
One Hundred Miles
University of Michigan School for Environment and Sustainability (SEAS)
Hunter College, City University of New York (CUNY)
The Architects Foundation
City of Cambridge
Montrose County
The Pocatello Development Authority