In the process, they are bringing 70,000 new jobs, pushing office vacancies to a five-year low and keeping the local housing market strong.

But after the technology industry went into decline six years ago, office vacancies hit a high of 23 percent.

Buffalo posted the first decline in its rate of office vacancies in four years.

In Stamford, where office vacancies topped 20 percent a year ago, the rate now averages about 13 to 14 percent.

Nonetheless, she said, they were undeterred by the stock-market collapse and its potential impact on office vacancies.

In the case of an office vacancy, the City Council has a choice to appoint a new mayor or to hold a special election.

"Interest rates are low, office vacancies are low and the city is prosperous," she said.

Overbuilding had caused some two million square feet of office vacancies.

Our market now is very strong, with low office vacancies and a substantial housing shortage.

There was office vacancy, high unemployment and no deal making.