FOR IMMEDIATE RELEASE
Community Coworking Space Thrives Despite Downtown Office Vacancy Rates
London, ON, October 3, 2024 – While London’s downtown core faces an unprecedented vacancy rate in office spaces, Innovation Works, a community coworking space owned and operated by Pillar Nonprofit Network, has maintained an 83-89% private office occupancy rate over the last 12 months. Innovation Works provides flexible and accessible work and meeting environments for nonprofits, purpose-driven organizations, businesses, and social enterprises.
At a time when reports highlight that London has the highest downtown office vacancy rates in Canada at 31.4%, Innovation Works stands out as a flourishing hub of activity. Inspired by the concept of third spaces, Innovation Works has been intentionally redesigned as a welcoming, inclusive, and accessible space. It offers flexible packages to accommodate the evolving needs of today’s workforce—both in the nonprofit and business sectors—creating an environment for individuals and organizations seeking hybrid alternatives, connection, collaboration, and community in a central, accessible location.
"We recognize that the way people work has fundamentally changed, and our approach reflects that shift. We offer a flexible environment that feels more like a gathering space than a traditional office," said Maureen Cassidy, CEO of Pillar Nonprofit Network. "Our co-tenants come here not just to work, but to connect with like-minded individuals, collaborate, and engage with their community in meaningful ways."
Innovation Works is also proud to collaborate with the London Economic Development Corporation on the Forest City Landing Pad (FC Landing Pad) initiative, which aims to attract new business opportunities and investments to the downtown core. The FC Landing Pad provides businesses entering the London market with a soft landing, offering coworking options and opportunities to immerse themselves in the connected community at Innovation Works.
With rising vacancy rates underscoring the challenges for traditional office spaces, community coworking spaces offer a solution that aligns with the needs of the modern workforce. Innovation Works’ coworking model fosters a sense of belonging and purpose, catering to individuals and small organizations looking for more than just a desk.
Creating a space for people to connect is key to revitalizing our downtown core. This coworking environment invites all to participate, grow, and contribute to a thriving, caring community.
For more information on Innovation Works, visit www.innovationworkslondon.ca.
About Pillar Nonprofit Network:
Pillar Nonprofit Network is dedicated to enhancing the operational capabilities of the impact sector. We promote equity through shared knowledge and community collaboration. We act as a catalyst and advocate for transformational change. To learn more about Pillar Nonprofit Network, please visit www.pillarnonprofit.ca.
Media Contact:
Maria Luisa Contursi
VP Network and Engagement
mlcontursi [at] pillarnonprofit [dot] ca
519-657-6018