Construction Tech Sector Funding Rises As Prescient Raises $50M More

Construction might not be top of mind when one thinks of sexy sectors in tech; however, that could be exactly why it’s one of the faster-growing sectors when it comes to capturing investor interest. It’s been around forever, with companies conducting many processes in the same old tired (and inefficient) ways for decades. What (multi-trillion dollar) industry could be more ripe for disruption?

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Prescient Delivers Chicagoland Luxury Community

Prescient, a fully integrated Building Information Modeling design and building platform, has completed The Apartment Homes at Kelmscott Park, a luxury community in Lake Forest, Ill. The company worked on the project along with architect Booth Hansen and Focus Construction, the construction arm of Focus Development, the property owner. According to Yardi Matrix data, Northbrook Bank & Trust originated the construction loan of $28 million in 2016.

Read the full article on Multi-Housing News.

The Power of Digitization Propels Prefabrication Into the Future

The construction industry’s record of innovation and adoption of new technologies, tools and approaches lags behind most other sectors. In fact, according to McKinsey & Company, the construction industry is among the least digitized and struggles to embrace revolutionary, new technologies that require up-front investment, even if the benefits are significant in the long run. Many contractors believe every project is unique and that embracing new, obscure techniques and technologies is not only impractical but will also compromise a project’s outcome.

Read the full article on Construction Executive.

Disrupting the Construction Process with Digital Design

Your project is about to begin. You’ve spent months on the design, pricing, and hiring a contractor and an architect. And now the real work begins. Your timeline shows the construction phase to last 18 months. And that’s the timeline that your budget is riding on. It’s a complete chess game now to make sure all pieces are in place to make it work in 18 months, when it was originally scheduled at 21.

Read the full article on Hive for Housing.

Prescient Launches New Investment Vehicle

The BIM design and building platform that reduces the time and cost of constructing multi-unit housing using a proprietary modular construction system has created Powered by Prescient. The subsidiary will acquire minority stakes in real estate development projects throughout the country. MHN talked with the company’s management to find out more about this new private equity firm.

Read the full article on Multi-Housing News.