Disperse | November 24, 2022
Disperse, a leading provider of building productivity systems in the construction industry, today announced the launch of its new product, Impulse. The innovative product enhances processes commonly used in construction with performance insights that project teams can utilize to inform critical day-to-day decisions. In addition to quantifying work-in-place of over 480 task components, Impulse highlights issues that do not conform to design or that may require rework so that project teams can systematically address them. This requires minimal manual inputs from project teams and is instead derived from 360º image scans captured by Disperse operatives that are accessible to customers through a class-leading visual interface of interactive building schematics. Impulse replaces the previous product for all new engagements and has been well received by Disperse's customers, with 35% having already migrated to the new solution.
Impulse visually integrates performance insights into building elevations and surfaces issues that even the most experienced team may not have the bandwidth to identify. Early customers use the work-in-place information displayed over building elevations during coordination meetings to drive more informed discussions with their trades. They also manage issues as broad as ensuring that a ceiling is closed after the rerouting of a pipe, all the way to quantifying outstanding scope to source a new contractor after a particular trade abandoned work on site. Impulse automatically tracks and, when relevant, resolves these issues using photographic documentation obtained through regular site scans, so that project teams can focus on driving productivity.
“What makes us stand out in the market is our ability to reliably and consistently extract data from the site images we capture, We have now built on this capability and our new product, Impulse, gives our customers objective data in an intuitive format for use in everyday decisions. With Impulse, we are serving actionable insights to project teams so that they can make better decisions and drive on-site performance.”
-Felix Neufeld founder and CEO Disperse.
While most construction technology companies rely on project teams to provide status and progress information as well as visuals from their site, Disperse automates this process for project teams by integrating the image scans with project drawings, schedule and, when available, updated BIM model. In essence, Impulse relies on the strengths of artificial intelligence and industry experts working together to extract data from these inputs and generates performance insights that projects can readily use to drive decisions. Disperse customers continue to have access to the comprehensive as-built reports that they lean on for stakeholder communications.
Track what matters with work-in-place insight of over 480 task components across Superstructure, Envelope / Façade, MEP, and Fit-Out.
Quickly visualize and validate any work-in-place with new interactive building elevations that filter by trade, task activity, object / component, and location.
Identify installations that do not conform to design drawings, that may require rework, or that may cause schedule delays with Spotlights, the early issue detection system, now actionable from within the platform. Spotlights also ensure no unexpected regressions occur by monitoring completed work.
Keep project teams focused on driving progress while ensuring stakeholders stay informed with automated executive summary, progress, cost, and earned value reports, as well as with schedule integrations (P6, ASTA, MSP).
Automated reports and insights are based on data that Disperse captures through our turn-key solution that integrates the image scans with project drawings, schedule, and when available, BIM model. This ensures project teams have consistent, quality scans that generate comprehensive as-built records once a project is complete.
Disperse captures the state of construction projects and provides actionable insights in a way that is scalable, accurate, and reliable so that project teams can focus on getting things done. Disperse products combine artificial intelligence and human expertise to empower project teams with insights from data that allows them to make better decisions with an objective project status, minimize risk with reliable as-built records, and improve stakeholder communication.
West Coast Construction | November 28, 2022
United Capital Source helped secure one merchant cash advance totaling $9 million for a west coast construction company. The 32-year-old company will use the funds for a government contract it was awarded for the renovation of two city schools.
After receiving the award for the construction contract, the company came to UCS looking for a subordinated line to its current lender. UCS, an online marketplace, worked quickly with the company’s lender and the funder’s legal teams on the language needed in the subordination agreement. The total time to fund the advance was four and a half days.
UCS helped to structure the exact deal required within the timeframe necessary so the company could take advantage of the opportunity they had despite this being unconventional funding. The construction company received an immediate cash advance of $6 million, with another $3 million becoming available in twenty days when the second part of their project starts. The merchant cash advance structure is an estimated 12-month deal that includes aggressive prepayment options from three to six months.
“This is another example of how our marketplace works. We have partnered with best-in-class lenders and funders who can operate quickly and efficiently across multiple products offering the best rates and terms available. Danielle handled most of the deal, and she worked for 4 days straight assisting the legal teams and working back and forth between all parties getting the deal to the finish line in time for the clients.”
-Jared Weitz UCS.
The structure of the loan is intended to serve as bridge financing, and that’s exactly how the construction company will use it. UCS VP of Sales Danielle Rivelli handled the deal from start to finish.
Danielle’s dedicated service and unique financing structure highlighted UCS’s ability to find business financing options that work for their clients. The construction company acquired the funds to take advantage of the government contract opportunity.
United Capital Source, Inc:
Is a lending marketplace geared towards driving small business growth. .
Power Construction | December 01, 2022
Metro Edge Development Partners, a commercial real estate development firm and minority business enterprise (MBE), announced it has finalized agreements with Corgan, Clune Construction, Power Construction, and Ujamaa Construction to design and build its state-of-the-art data center in the Illinois Medical District (IMD). They join T5 Data Centers as the team that will design, construct, and operate the new data center.
“Metro Edge was founded as a firm focused on high-impact, technology-driven developments that have a positive impact on the market and the local community, We are thrilled to have best-in-class partners like Corgan, Clune, Power, and Ujamaa working with us to design and construct this facility. It is a testament to, not only their belief in this project, but also the importance of the development and the positive impact it will have on the West Side. We believe this diverse collection of industry professionals will allow Metro Edge to deliver one of the highest-performance data centers in Chicago.”
-Bradley Beile, COO of Metro Edge.
The $257 million state-of-the-art data center is expected to break ground in 2023 and open in 2024. Metro Edge recently announced the company secured a 75-year ground lease on a 1.97-acre parcel in the IMD to build and operate a 19.8 megawatt, five-story, 184,720 square foot, high-performance data center that will address the technology infrastructure needs of local and regional healthcare, financial, educational, and government organizations. The facility has already secured 50% preleasing.
Located on the West Side of Chicago, the construction of the data center will support over 200 construction jobs and, once completed, over 70 full-time jobs including data center engineers, electricians, tech support personnel, and operations.
The new data center will be designed by Corgan, a renowned local architecture firm with decades of experience designing data centers, healthcare and education facilities, commercial buildings, and airport terminals.
“Corgan has a rich history of supporting our clients across the data center sector, including the largest wholesale and hyperscale client in the world, We believe the IMD project has the potential to transform the data center landscape in Chicago and we are excited to work with Metro Edge to bring this data center online.”
-Dan Drennan, Principal at Corgan.
Corgan is leading all the architecture, engineering, and design elements of the project while Clune will oversee all construction aspects of the development in partnership with Power and Ujamaa and T5 as project manager.
This project represents a major investment in the West Side of Chicago and meaningfully improves the neighborhood by building on land that has sat vacant for decades, said 28th Ward Alderman Jason Ervin. The development is being led by a top minority-owned real estate company and will generate jobs, revenue, and important social impact programs for the community.
About Metro Edge Development Partners:
Metro Edge Development Partners is a Chicago-based commercial real estate development firm and minority business enterprise (MBE). Our mission is to pursue institutional-quality investment opportunities that deliver exceptional results to our financial and community partners. Led by a team with decades of private equity real estate experience, Metro Edge targets data centers, life sciences, and technology-oriented developments in primary urban locations around the country. Simply put, we create significant value in areas overlooked by our competitors.
About Clune Construction:
Clune Construction is a national, employee-owned general contractor, with more than 600 talented professionals located in six offices across the U.S. Since 1997, Clune has provided construction management services for some of the most respected companies in the world. The company manages over $1 billion in construction projects annually.
Corgan is a leading architecture and design firm with a decades-long reputation for great customer service. Corgan has expertise across six market sectors – aviation, commercial, data centers, education, healthcare, and interiors.
About Power Construction:
Power Construction is a management-owned commercial construction company founded in 1926, that focuses on the greater Chicago metro area. With annual revenue of $1 billion and a professional staff of 270, Power is ranked #1 in Chicago on Crain's Chicago Business List of Largest General Contractors. The Chicago Tribune has recognized Power Construction as a Top Workplace for the past five years running. Client types include healthcare, hospitality, developer, workplace, education, industrial, aviation, and luxury residential.
About T5 Data Centers (T5)
T5 Data Centers (T5) is a full lifecycle data center partner. The company provides customized build-to-suit, wholesale turnkey or powered shell data centers, critical facility construction, and ongoing facility management and operations services. T5 offers expert critical facility construction and its Uptime Award Winning facility management and operations services across its portfolio of data centers. T5 currently operates over 500 MW of critical load across 55 data centers and offers turnkey or build to suit data center solutions in 9 U.S. markets.
About Ujamaa Construction
Ujamaa Construction (“UJAMAA”) was founded in 2002 by Jimmy Akintonde to create a working organization that pays an equal amount of attention to quality of completed projects, safety of its employees, social responsibility, sustainability, corporate profitability, and citizenship within the company’s communities. UJAMAA has experienced explosive growth, opening an office in Atlanta, Georgia in 2017.