Latest Project in Denver Marks Third Collaboration Amongst Companies
Demonstrates Increased Value Prescient Brings to Each Stage of Construction Process
DURHAM, N.C. and GOLDEN, Colo. and AUSTIN, Texas, Jan. 29, 2019 (GLOBE NEWSWIRE) — CFC Construction, Cypress Real Estate Advisors and Prescient today announced a collaboration whereby CFC Construction and Cypress Real Estate Advisors will utilize Prescient’s digital thread for Denargo Phase III. Denargo Phase III is the third phase of developments in the Denargo area of Denver for Cypress, and Prescient’s fully integrated BIM design and building platform will dramatically reduce the time and cost of construction.
Denargo Phase III marks the third project in the Denver area in which CFC Construction and Cypress Residential have employed Prescient’s Digital Thread. This project, on a 2.5-acre site, is a 337-unit apartment building with a garage for more than 400 cars, approximately 10,000 square feet of retail space and 8,000 square feet of restaurant space in the RiNo’s Denargo Market area.
CFC Construction, Cypress and Prescient have collaborated on a number of projects, strengthening their integrated approach that leverages Prescient’s proprietary software and hardware platform to deliver even greater value to clients. Previous projects include 13th & Delaware Apartments and Jefferson View Apartments, which have served as the prototype for Prescient’s latest innovation: external sheathing. CFC Construction collaborated with Prescient to develop and implement this first in the nation use of Prescient’s innovative external sheathing system. This advancement means that external panels are finished at the same rate that Prescient completes construction on each floor, allowing other trades that require a “dried-in” environment to start working sooner, therefore saving months on the overall project schedule.
“I am thrilled to be able to work with Prescient once again on another exciting new development in the Denver area,” said Chase Hill, Denver Partner for Cypress Real Estate Advisors. “We choose to partner with Prescient for a number of reasons, including the speed in which they deliver on site, the efficiency of their design and the environmental benefits. At Jefferson View, we were able to complete 248 units on a 0.8 acre site which would not have been possible with concrete. Additionally, Prescient projects produce minimal waste, which helps us to earn an NGBS certification. We always look forward to our collaboration with the Prescient team, and the speed and ease at which they help us to complete our projects.”
“We have a proven track record of success when we collaborate with Prescient,” said EJ Olbright, Chief Executive Officer of CFC Construction. “We started our first project with Prescient at the request of Cypress. We soon discovered the value and many benefits of working with their digital technology platform, including the increased speed and precision manufactured products. We were impressed when Prescient finished their work eight weeks ahead of schedule on the 13th & Delaware Apartments, which allows us to further compress other trades’ schedules. We continue to apply “lesson’s learned” from each project on to the next one, and we are implementing many advancements in timing and efficiency at Denargo Phase III. That’s also why we pushed them to develop the external sheathing for Jefferson View. Working with Prescient is a huge advantage in the construction industry, and we look forward to beginning this new project together soon.”
“It has been a pleasure to work on consecutive projects in the Denver area with both Cypress and CFC Construction,” said Magued Eldaief, Chief Executive Officer of Prescient. “They’ve challenged us to innovate on our approach and ultimately deliver the overall project much faster, with closer integration and collaboration among key subcontractors. There is no doubt we improve as a team with each new project. Along with this, both CFC and Cypress capture additional ‘soft’ benefits of working with our team, including compressed and predictable schedules, faster time to both market and rental income and increased efficiency in designs yielding greater income per acre. Denargo Phase III will be our 19th development in the Denver area and once again validates the unique value proposition of our technology and its growth potential in additional U.S. markets.”
To date, Prescient has completed 35 buildings for a total of 5.5M 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.
Since Prescient’s founding here in Denver in 2012, the platform has been utilized for eleven finished buildings, eight in-progress projects and soon Denargo Phase III, accounting for more than 2.9 million square feet of construction in the Denver area.
CFC Construction has delivered comprehensive and reliable preconstruction and construction services in Colorado for over 40 years. From the Front Range to the mountains, experience, professionalism and dedication to our clients has earned CFC success in project delivery and client loyalty. We are proud to continue our partnership with Prescient and Cypress Real Estate Advisors.
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, Abernathy MacGregor
CFC Construction Contact:
Sean Smith, Business Development Manager