Prescient eyes 10M square feet, expansion to most 'NFL cities'
- Durham, North Carolina-headquartered startup Prescient announced Tuesday that 5.1 million square feet of construction has been built with its proprietary software and prefabricated components and that 4.7 million additional square feet using the system is in development. CEO Magued Eldaief said the size of its average project increased from three stories in 2013 to six stories (less than 60,000 square feet) in 2015 to as much as 17 stories (roughly 200,000 square feet) since 2016.
- Prescient facilities in Arvada, Colorado, and Mebane, North Carolina, manufacture light gauge framing components using welding robots, laser cutting and other machines that integrate with a virtual BIM model. The software is used as a central source of project information from early design phases (through integration with Autodesk Revit) to completion.
- Prescient is active in 16 states. Executive Chairman Satyen Patel said in a statement the company is “pursuing expansion opportunities with plans to have a strong presence in most NFL cities,” with existing projects in Denver, Colorado; Kansas City, Missouri; Tampa, Florida; Atlanta, Georgia; and Dallas, Texas; and budding partnerships in additional urban markets.
While many construction companies take the approach of tacking on new technologies to existing processes, Prescient has looked to reinvent and automate every step, from design to fabrication to assembly, by integrating technology with advanced manufacturing methods.
Eldaief told Construction Dive in February that “technological advances in both software and hardware are allowing companies on the cutting edge to employ robotics and lean manufacturing techniques to punch, dimple and cut building materials to precise measurements for pre-assembly before a component arrives on the work site.” The company said that by eliminating some process silos, it can carry out projects faster, with more ROI, better quality and less waste.
The Prescient system has seen high demand in Denver due to the market’s need for housing that could be delivered fast, according to a company-issued press release, with 11 completed projects and nine either in progress or planning.
The firm recently moved into Atlanta, where it partnered with Balfour Beatty and Toll Brothers on the Osprey, a 13-story, 325,000-square-foot tower in midtown. Prescient will reportedly prefabricate and install wall panels and structural columns, as well as precast balconies, stairs and infill framing. Balfour Beatty said the approach will take months less than more traditional construction methods by facilitating collaboration with other trades during the early planning process. Installation should start toward the beginning of 2019 with completion slated for the first quarter of 2020.
- Globe Newswire Prescient’s Denver Success Spreading Nationally
Follow Kathleen Brown on Twitter