We tried an open office space for a while and it was just too loud and distracting with multiple projects going on. My studio tends to have 3 things at once. If everyone at your place is working on the same thing then maybe it will work. We had to change office space to have individual "project" rooms with those people in them. Having gone through it myself, I think one gigantic "pit" (as we used to call it), doesn't really work. Every single person from my office gushes how the new arrangement is better. At least have fully enclosed rooms for each "project" so you get the best of both worlds.