Welcome to our public wiki page! If you're reading this, you're way too bored, but also—you might have just discovered the biggest thing since the internet.
There is a lot of bad building information being used to acquire, design, build, and operate buildings.
The Solution Scan buildings for validated building information.
Create a verified cloud-based network of digitized buildings, fundamentally changing how we verify, visualize, and quantify buildings.
What We See
- Real estate is the largest asset class in the world and is in the midst of a digital transformation as owners and operators look for smarter, more efficient ways to design, build, lease, and operate their locations. COVID-19 has accelerated this transition.
- Real Estate has consistently ranked nearly last in digitization, as compared to other industries. This lack of digitization has slowed innovation and productivity in real estate-adjacent sectors such as design, construction, leasing, and facility operations.
- Due to a lack of digitized of buildings (referred to as "digital twins"), inefficiencies manifest from a single location to entire real estate portfolios resulting in crippling challenges for owners and operators—at a massive scale. These include delayed project delivery times, cost overruns, and poor spatial experiences existing within a broad, multi-trillion building industry.
- There are more existing buildings in the world than websites. And yet, only 0.01% are currently digitized. Because of this, 99.99% of building information (the "data") is either incomplete, inaccurate, outdated, or simply non-existent (ie. bad “data”). Bad data is rampant and a significant blocker to the digital transformation process.
- Conventional service providers, particularly large corporates, are stymied by legacy business models—unable to quickly adapt to changing technology, partnerships, processes, required technical skill, and pricing models in order to digitize buildings, accurately. These service providers include architecture, engineering, brokerage, and construction (AEC) firms.
- Early Prop-Tech ("Property Technology") companies targeting the real estate market have focused on developing digital tools to manage legacy building information. However, these early digital tools have largely been software-first solutions looking to improve conventional workflows with unverified or user-generated legacy data, without addressing a foundational industry problem—we're using inaccurate building information as a starting point.
- A new generation of tech-enabled service providers will have the opportunity to fundamentally transform how buildings are experienced, designed, searched, indexed, built, and operated. But before doing so, validating building information will have to exist at the core of an operation.
- Similar to existing utility companies (internet, water, gas, etc), the validation of building information accuracy poses network and territory problems. And, thus, verifying building information requires a physical and digital infrastructure of integrated technologies, processes, and new recurring business models (as opposed to project or fee-based). Required technologies include the adoption of reality capture (3D scanning), 3D building information modeling, and creation of robust building data APIs.
What We Do
Integrated Projects is a building intelligence firm leading the digital transformation in real estate through advanced design services and products.
Integrated Projects provides the physical and digital infrastructure to accurately digitize buildings, globally. As a result, building owners are now empowered to design, build, lease, and operate their locations in smarter, faster, more cost-effective ways by tapping into the benefits of a digital real estate portfolio:
- Time: From "zero to buildable plans" in days, not weeks or months.
- Cost: 50%+ savings in direct soft costs across an entire real estate portfolio.
- Scalable Standards: Accurate, standardized location data for portfolio-wide operations (acquisitions, design, leasing, operations).
- Transformative Experience: Digitized locations enable clients to view and share any location in high-resolution, at any time, from anywhere.
- Location Assets & Data: Owners own their digital building assets and data, not consultants.
We help Corporate Real Estate Executives overcome root problems (see: Problems We Solve) that undermine efforts to grow, optimize, and transition their portfolio into the digital era. These Executives exist in various real estate verticals:
Our enterprise clients achieve this by leveraging our integrated offering of (1) advanced project services, (2) cloud-based location management platform “IPx” and (3) API database to:
- Verify dimensional and quantity data.
- Create accurate, construction-ready 3D building plans.
- Visualize spaces in immersive, high-resolution media.
- Quantify spatial, material, and equipment data across one location, or an entire portfolio.
Integrated Projects is an early mover market leader in the digital transformation of real estate servicing the most forward-thinking national operators with strong traction and growing repeat business centered on accurate, validated spatial data.
- Digitized: 5 million square feet of private space digitized in 10+ cities across since 2018. Current “In-Network” cities include New York City, San Francisco, Los Angeles, and London. In Q1 of 2021, IP is averaging close to 500,000 square feet of digitized space per month, up 100% from the same quarter in 2020.
- IPx Network: 170+ buildings digitized, 400+ individual floors and growing
- Initial Sector Focus: Commercial, Office, Hospitality and Industrial Buildings
- Enterprise Clients create opportunity for fast, nationwide digitization : IP is focused on multi-site, national operators with large corporate real estate footprint. Current clients include Salesforce, Columbia University, Unity Technologies, Equinox, Veteran Services USA, Knotel, Spaxel Properties, and more.
- Portfolio-wide project services lay the digital foundation to expand the IPx Network begins with a comprehensive 3D scan of a location, followed by the conversion to an accurate 3D model—in just days, not weeks or months. This generates initial revenues of $0.30 - $0.50 per square foot, almost a 2X-3X cost savings as compared to conventional costs to produce Scan-to-BIM. These onboarding services lay the digital foundation to build the "IPx Network," a unique network of validated building assets.
- “Day 2” Network Services keep Enterprise Clients coming back out of convenience, speed, price, scalability, and predictability: Once onboarded to the IPx Network, clients request value-add location services and location data on an as-needed basis, and delivered at unrivaled speed (hours, not weeks or days). These services can include a range of commonly required documents which IP has pre-generated: 3D BIM, CAD, floor plan presentations, virtual tours, site photos, itemized quantity reports. These "Day 2" services are priced 5X-10X cheaper than conventional soft costs, and are charged only when the client requires them.
- Once digitized and onboarded to IPx, it is significantly more expensive for IP clients to churn or switch back to conventional, more costly and slower service providers. This drives massive NDR (net dollar retention) and Client Lifetime Value (CLV).
- IP’s volume-based pricing enables clients to afford digitizing multiple locations at once. With key clients focused on working with IP to digitize their entire corporate real estate portfolio.
Where We're Going
- We envision a world in which building information is universally accessible and useful to enhance the way we design, build, promote, and operate our workplaces.
- Our mission is to digitize and index the built world.
- IP's monetization strategies create a hybrid of short-term and long-term revenues:
- Day 1 onboarding generates service revenues priced at $0.40/SF on average at 75% gross margins.
- IPx Membership will be offered to clients for free, with a focus on developing the Beta with early users within client organizations. In 2021, the aim is to onboard over 5,000,000 square feet. In 2022, we'll aim to monetize the IPx platform, with the aim to develop new partnership contracts priced at $0.01/SF per month for IPx Memberships. Thus, a typical 2 million square foot commercial portfolio would pay $20,000 a month or $240,000 annually to securely host their digital portfolio, a future necessary expense for all multi-site organizations.
- Network Services are priced competitively low, so as to incentivize organizations to onboard IPx for future low-cost, high value location data and project assets. Long tail revenues can be expected several years out from initial Day 1 onboarding.
- Strategic Partnerships with third-party data aggregators and service providers provide massive opportunities for IP to tap into global distribution networks, thereby growing Day 1 services revenues and onboarding additional locations onto IPx.
- Comparative Advantage
- Product Roadmap
- Employees & Contractors
- Strategic Partnerships
- Tech Stack
- Client List