iBUILT, a new design-build-operate company powered by end-to-end technology, recently announced its official launch. The new company is focused on solving developer pain points in the development process by utilizing technology and off-site manufacturing to eliminate inefficiencies at each stage of the building life cycle.
“The development process has been dysfunctional for developers and owners for decades—projects are always over budget and behind schedule. Today, it’s more important than ever to find ways to build more efficiently, effectively, and safely,” said Ayall Schanzer, chief strategy officer at iBUILT. “With iBUILT, we are bringing together all the critical pieces to transform how buildings are built—a large-scale, off-site factory, new proprietary technologies, and a C-suite of innovative leaders across the design, construction, technology, development, and automation industries.”
With $150 million in signed deals and $600 million of new deals in negotiation, the company hopes to transform the development process across asset classes, including affordable and market housing, student housing, hospitality, and retail. According to iBUILT, they can deliver complete buildings of up to 35 stories anywhere in the country.
Upcoming iBUILT work includes a multifamily condo project in Brooklyn, New York, leveraging smart building technology, a 100-unit affordable housing development in Baltimore, and an 80,000-square-foot market residential building in New Haven, Connecticut.
“iBUILT looks at construction from the perspective of the developer,” said Isaac Alkaslasi, president of I&G Group, who is working with iBUILT on the Baltimore project. “Their approach to the design process is streamlined, smart, and completely different than anything we’ve ever seen before.”
Unlike the traditional development process, iBUILT delivers a fully designed building in 30 business days at a guaranteed price and schedule, with no change orders, through its Fast Track program. The Fast Track deliverable includes comprehensive interior and exterior designs, 70% of architectural, structural, mechanical, electrical, plumbing and fire prevention drawings, and a complete schedule of finishes.
The benefits of iBUILT’s technology also extends beyond the building design and construction. The company’s BIM-based blueprints incorporate proprietary digital twin software that gives developers complete control over the ongoing management of buildings, including preventative maintenance.