The new e-lofts, a 200-unit complex now leasing in Alexandria, Va., owes its genesis to the smartphone. Thanks to our smartphones (and laptops and tablets) we no longer have to be tethered to our cubicles. We can work from practically anywhere. The Census Bureau says 6.8 million Americans—4.6% of the U.S. workforce—work from home. Global Workplace Analytics estimates that 20–25% of U.S. workers do so remotely part time.
The practical effect of the unshackling of the American worker is that traditional downtown and suburban office buildings are bleeding tenants. In Northern Virginia, which includes the city of Alexandria, there are about 150 office buildings with vacancies of 50,000 sf or more, according to the Washington Post. Office rentals in the metro area are flat, even as the region added 66,600 jobs last year.