July 30, 2013 08:00 AM Eastern Daylight Time
Structural software and manufacturing startup completes B Street LoHi Building in Denver’s Highlands neighborhood; begins work on second project
DENVER--(BUSINESS WIRE)--Prescient, an innovative software and structural system manufacturing company, today announced the completion of the first building featuring its standardized light gauge structural system.
“We’ve already begun installation on our second building and are currently bidding on active projects across the country of over 3.5 million square feet.”
A new addition to the thriving Highlands neighborhood in Denver, the B Street LoHi building was built using Prescient’s patent pending technology, which standardizes multi-family design and construction and provides faster, greener and more cost-competitive building.
“Standardized systems with flexibility, like Prescient, are the future of construction,” said Paul Books, president of Palisade Partners, the project’s developer. “Prescient has found an incredibly effective way to standardize every step of the process, from design to construction. It’s a first of its kind, and we are excited to be a part of the construction frontier.”
Prescient’s standardized architecture, engineering and construction (AEC) process combines proprietary software, a patent pending manufacturing system and a simplified installation process that speeds up building time and lowers overall development costs.
The B Street LoHi building’s 60,000-square-foot, five-story apartment structure was installed in just six weeks – a production rate of over 15 thousand square feet per week, which is roughly three times faster than the average build time of a wood frame structure.
“This first building is evidence that our standardized structural alternative allows complete design freedom while speeding up build time and reducing costs,” said John Vanker, CEO and co-founder of Prescient. “We’ve already begun installation on our second building and are currently bidding on active projects across the country of over 3.5 million square feet.”
Prescient’s next building, University Station, a six-story affordable housing complex near the University of Denver light rail station, is currently being erected. The building dovetails nicely with Denver Mayor Michael Hancock’s call for more affordable housing during his recent state of the city address.
Vanker expects the framing for the University Station building to be complete in just five weeks, an improvement over their first building’s faster-than-average installation time.
You can see the building’s progress online at the following live webcam: http://oxblue.com/open/beck/universitystation
"This is a milestone for the industry," said Prescient's Chairman, Satyen Patel. "In 2012, more than 500 million square feet of multi-family apartments, condos, hotels, dorms and senior & assisted living housing were built in the U.S.
Going forward, Prescient is positioned to win its fair share of this segment. Our technology is well suited for U.S. and international markets and we plan to take this global."
About Prescient
Prescient is a manufacturing and technology company that offers a faster, greener and more cost-effective alternative to conventional building structures. Prescient’s primary market segment is multi-unit buildings and residential construction, including apartments, condos, senior and assisted living communities, hotels and college and military dormitories. Prescient provides a unique and efficient value proposition based on proprietary technology and lean manufacturing. The company is backed by Kanusul Investments Pte. Ltd., a private equity fund based in Singapore. For more information visit http://www.prescientco.com or on Twitter at https://twitter.com/PrescientCo and Facebook at https://www.facebook.com/PrescientDesignAndConstruction.
