Supply chain issues are holding up construction on a new co-working building on Jetton Road extension / Photo by Jason Benavides

March 7. By Dave Yochum. Supply chain issues, steel to be exact, are holding up construction on a new co-working building on Jetton Road extension, opposite the United Community Bank building.

The two-story building was approved back in 2022 and construction got under way last year.

Co-working space

Owner Serendipity Labs is a flexible workspace provider based in Rye, NY. The 26,000 square-foot co-working facility taps into the hybrid model of working partly in the office and partly at home. This comes after COVID sent many people home to work, even as others work remotely for distant employers

“The office market has shifted to flexible solutions that address tenant requirements for the hybrid workforce,” said John Arenas, CEO of Serendipity Labs.

The building on Jetton is projected to be completed by December 2024.

Serendipity’s proposed building on Jetton Extension

“We are looking forward to continuing work when materials arrive on site within the next month,” a spokesperson said.

Background

In recent years, 80 percent of companies have adopted hybrid work models, according to a Gartner survey. A notable portion of employees prefer these hybrid schedules. Many of them would sacrifice other work benefits to keep them long-term.

Steel

A McKinsey & Co. report says during the initial waves of COVID, steel stocks and supply chains were emptied and production capacities idled. When demand rebounded, supply couldn’t keep up, which pushed prices higher. Then, in 2022, Russia invaded Ukraine, further disrupting supplies.