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TMT Development last month opened a new coworking space in Fox Tower, capitalizing on renewed demand for flexible workspace.

Co-Working PDX occupies 19,290 square feet in Fox Tower, the 27-story building near Pioneer Courthouse Square in the heart of downtown Portland.

The coworking spaces offer private offices, cubicles, open desks and day passes starting at $29 per day. Services include printing and scanning, mail collection and digital meeting technology.

Companies have struggled to determine how much space they need given the uncertainty of the hybrid work environment, and some have underestimated their space needs, TMT Development CEO Vanessa Sturgeon stated in a news release.

Co-Working PDX is positioned as a 鈥渞elief valve鈥� for Fox Tower tenants that have found they leased too little space and need an option for temporary expansion, according to Sturgeon.

鈥淲e鈥檙e seeing that a lot of businesses that left the Central City or reduced their office footprint still need a base camp for their employees to operate in downtown,鈥� she stated.

Co-Working PDX 鈥渉elps fill a gap in the market for where people work,鈥� she added. 鈥淭his shift we鈥檙e seeing in the need for additional space downtown demonstrates that people are returning to offices, which will increase foot traffic and serve as a boost for restaurants, retail shops and other businesses in the area.鈥�

Nationally, the coworking sector has shown some signs of life since it was devastated by office closures amid the COVID-19 pandemic and onetime industry darling WeWork entered bankruptcy protection to wipe out $4 billion in debt.

In December, WeWork and Amazon inked one of Manhattan鈥檚 largest leases for 304,000 square feet, CoStar News reported.