DURHAM, N.C. and ATLANTA, May 16, 2018 (GLOBE NEWSWIRE) -- Prescient (“the Company”), a fully integrated BIM design and building platform that dramatically reduces the time and cost of constructing multi-unit housing using a proprietary modular construction system, today announced that it has been selected by Kaplan Residential for the development of the highly anticipated 336-unit apartment complex, Generation Atlanta. Prescient will work collaboratively alongside architect Niles Bolton Associates and contractor CBG Building Company to complete the project, which will be Prescient’s tallest project to-date.
Generation Atlanta, boasting a square footage of 333,100 square feet and height of 17 total stories, will begin vertical implementation in May 2019 and is expected to be completed in 2020. The finished apartments will target millennials with lower rents and feature amenities including a pool, rooftop lounge and rooftop terrace.
Satyen Patel, Executive Chairman, Prescient, stated, “I am excited to announce that we have been commissioned by Kaplan Residential for our tallest project to-date. It is clear that our proprietary modular construction system is attracting premier developers, architects and contractors to help complete projects within budget and ahead of schedule. We are thankful for the support of Kaplan Residential, Niles Bolton Associates and CBG Building Company for this exciting opportunity and are looking forward to beginning work with them on this groundbreaking project.”
“Prescient is a game changer for our future high-rise aspirations. Their innovative technology helps ensure that our projects are completed as accurately as possible, significantly reducing the potential for issues on the project site,” said Nathan Kaplan, Partner at Kaplan Residential.
“We are pleased to be partnering with Prescient once again on this exciting new project,” said Chris Hirst, Senior Vice President of Construction at CBG Building Company. “Prescient’s disruptive platform greatly compresses the typical construction timeline. As a general contractor, we rely on Prescient’s Digital Thread to ensure that projects are designed with the future in mind, while significantly reducing time-to-market. Our clients are continually impressed with the high quality buildings delivered by the CBG/Prescient team.”
“We are excited to have designed the first Prescient project in the Atlanta market. The Prescient system was key to making this development a reality,” said Ray Kimsey, President, Niles Bolton Associates.
The project is being financed by Santander and Citizens Bank, with equity provided by Parse Capital and arranged by Central Park Capital Partners.
The company’s current project development pipeline exceeds 10 million square feet, which equals more than $300 million for delivery in 2018 and 2019. Prescient receives requests for proposals of more than 1.5 million square feet per week. As a result, the company recently doubled the size of its Colorado manufacturing facility and brought a second plant online in North Carolina in July 2017.
About Prescient
Digital Thread. The foundation for Prescient’s revolution is a standardized light gauge framing system that utilizes proprietary software applications which create a design and construction platform. Our thread connects projects from the initial architectural design through the finished building. The Prescient Digital thread is based on a model-centric design and planning platform that liberates project stakeholders to plan better and execute better. As a result, a project is no longer a series of isolated steps with familiar breakdowns and gaps. Instead, it becomes an orderly progression through a repeatable flow, connecting developers, designers, suppliers and contractors at every step. This seamless approach means higher productivity, higher quality, fewer last-minute conflicts on site, less waste, shorter schedules, and a better ROI.
Integrated Manufacturing. Prescient uses precision manufacturing technology including robotics, laser cutting systems, and state-of-the-art numerically controlled flexible manufacturing systems to deliver buildings with very tight tolerances, comparable to the automotive industry. Prescient’s digital thread integrates planning & design with manufacturing & installation.
Established in 2012, Prescient is aiming for nothing less than a revolution in the way buildings take shape through new levels of cost efficiency, environmental sustainability, and quality of outcome for all participants. Prescient’s platform ensures buildings perform better, cost less, and take less time to build by employing a digital thread for leading-edge integrated manufacturing.
We are Prescient. And we’re rebuilding construction from the ground up.
For more information, visit the company website, Twitter feed or Facebook page.
About Kaplan Residential
Recognized for its hands-on approach and “personal touch” Kaplan Residential remains true to its heritage. Evolved from a family owned and operated business, Kaplan Residential focuses on developing, building and managing the most innovative and timely multi-housing and mixed-use solutions throughout the Southeast. Led by Morris Kaplan, who brings more than 40 years of applied development and construction expertise, the Company approaches each design with the diligence and attention to detail that turns projects into communities and housing into homes.
For more information, visit the company website.
Media Contact
Dana Gorman or Blair Hennessy, Abernathy MacGregor
212-371-5999
dtg@abmac.com or bth@abmac.com
A photo accompanying this announcement is available at http://resource.globenewswire.com/Resource/Download/1d279623-03c2-4635-8768-d3a38b3842cd