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Prescient Enters Seismic Market to Build Largest Student Housing Development in US

1209 Days ago

Milestone Project at UC Davis Reliant on Prescient’s Revolutionary Digital Thread and Marks the First Step in the Company’s Expansion to the West Coast

DURHAM, N.C., March 05, 2019 (GLOBE NEWSWIRE) -- Prescient, a disruptive technology company in the multifamily construction industry, today announced that its revolutionary Digital Thread was used for the construction of a new student housing complex at The University of California, Davis, (UC Davis) which broke ground on February 26. This project, currently the largest student housing development in the US, is Prescient’s first project in a seismic zone and its first in California.

The multifamily seismic market makes up about 54 million square feet annually in the United States alone. Currently, Prescient is approved to build a seismic structure up to 65 feet in height and the company is currently working toward a 12-story International Code Council (ICC) certification. To position the company for the seismic approvals, it has collected over 500 million data points in 842 tests and has spent close to $4 million and 15,000 manhours of engineering consulting time.

“In an industry that is highly commoditized, Prescient has many imitators but no true competitors,” said Satyen Patel, Executive Chairman of Prescient.  “We have many patents for this unique seismic-friendly structural system that is cost competitive with wood and significantly less expensive than concrete or other steel structures. Prescient’s software automatically produces precise BIM Models of a building’s structure, which are dimensionally accurate and become the basis for all project stakeholders (MEP and others) to effectively engage in Model Centric Design or BIM Design. As we launch this product along the West Coast, we’re poised to expand beyond just the US into Mexico which is a natural extension within the North American Market and we are evaluating options to launch this product internationally into other markets that have a distinct need for seismic friendly products like Japan, India, the Middle East and Latin America”

Prescient is working alongside several partners for the UC Davis project, including The Michaels Organization, which is serving as the lead developer, Stantec, which is providing lead architectural, interiors, buildings engineering and landscape architecture services for the project, and CBG Building Company which is serving as the general contractor.

“We are pleased to announce our integral role with this historic new project at UC Davis and we look forward to working diligently with our partners to ensure its successful and timely completion,” said Magued Eldaief, CEO of Prescient. “The ability to utilize our Digital Thread in a seismic zone is a huge opportunity for us, and opens doors to Prescient’s expansion in earthquake-prone geographies, including California and Mexico, which require seismic design. Our continued investment in seismic design and research to receive worldwide certifications is proof of our commitment to revolutionize the building environment, enabling higher productivity, less waste and fewer last-minute conflicts on site for our valued clients.”

To date, Prescient has completed 36 buildings for a total of 5.6M square feet of construction with another 4.7M under development.  Prescient has active projects underway or completed in 16 states:  California, Colorado, Florida, Georgia, Illinois, Kansas, Kentucky, Michigan, Missouri, Nebraska, New York, North Carolina, Oklahoma, South Carolina, Texas and Virginia. 

About Prescient
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.  Prescient’s proprietary software utilizes a Digital Thread that connects projects from the initial architectural design through the finished building. Prescient’s precision manufacturing technology, including robotics, laser-cutting systems and state-of-the-art numerically controlled flexible manufacturing systems, creates a seamless approach, meaning higher productivity, higher quality, fewer last-minute conflicts on site, less waste, shorter schedules and a better ROI.

Bringing the Digital World to the Physical World.  The Prescient Digital Thread is based on a model-centric design and planning platform that liberates project stakeholders to plan better and execute better.  Our thread connects projects from the initial architectural design through the finished building.  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 developer, 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 design, engineering, manufacturing & installation.

We are Prescient.  Our mission is Attainable Housing for All and we are achieving that by Revolutionizing The Building Environment.

For more information, visit the company website, Twitter feed or Facebook page.

Media Contact, for Prescient 
Blair Hennessy or JP Letourneau, Abernathy MacGregor
bth@abmac.com; jpl@abmac.com

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/9bd3a1c9-39de-4ee3-8c91-5b01340c344f

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