From the moment Balfour Beatty partnered with modular construction firm, Prescient, on the Osprey, the project team established many noteworthy goals for this mixed-use, multifamily development: accelerating the schedule to achieve the owner’s desired pro forma, seamlessly integrating the prefabricated structural installation with on-site labor and being among the first projects using the Prescient solution to…
Offsite construction is poised for explosive growth, and Prescient is well-positioned to take advantage of the delivery method’s popularity. The BIM hardware and software technology company, which strategically decided to focus on multifamily units up to 18 stories, marries the digital and built worlds with software that captures structural and engineering details for plans that…
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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A year after moving its headquarters to Durham from Denver, Prescient has raised a whopping $50 million in new financing. That’s in addition to the $45 million it inked in December 2017.
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 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.
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.
Although prefabrication isn’t a new building method, recent advancements have renewed the spotlight on its enhanced capabilities. Where designs were once limited and often conjured up images of industrial big boxes, prefab can be easily customized and is relevant for many applications, including healthcare and hospitality.
Read the full article on Construction Dive.
College campuses across the country are in a constant state of flux. Classrooms and academic spaces are changing, costs are rising and myriad factors are forcing universities to redefine the student experience. Student housing finds itself in the middle of this ever-evolving atmosphere.
Read the full article on Student Housing Business.