CONSTRUCTION

Onyx+East and Pretium Start Construction of Inaugural Build-to-Rent Community

Pretium | March 21, 2022

Onyx+East, an award-winning homebuilder headquartered in Indianapolis and known for its modern and functional home designs, and Pretium, a specialized investment firm with $40 billion in assets, today announced the start of construction of Monterey, the first build-to-rent ("BTR") community under development through their previously announced joint venture. As part of the joint venture, Onyx+East and Pretium are committed to investing approximately $600 million to develop, build, and operate new single-family, BTR communities across key Midwestern markets and along Florida's West Coast.

Monterey will be a 24-home BTR community in Tampa, Florida with brand-new townhomes that incorporate sustainable home features such as luxury vinyl plank flooring and stucco exteriors, providing a sustainable and modern rental option. Located among the vibrant neighborhoods of West Tampa and Westshore, the location also provides easy access to Midtown Tampa, a 22-acre mixed-use district featuring Class A office space, mixed-use retail and entertainment, luxury apartment residences, and a boutique hotel.

Residents will have the option to rent three- and four-bedroom townhomes with attached garages and will be walking distance from Midtown Tampa's coveted urban amenities including Whole Foods, REI, a community dog park, and a watercourse trail. Monterey is a short commute from employment centers with over 160,000 jobs and major economic drivers including The University of Tampa, West River Development, and the Tampa General Hospital.

"This attractive location in Tampa's Midtown offers residents convenient transportation options throughout the Tampa/St. Pete metro area and plentiful opportunities for shopping, dining, and outdoor activities, Monterey will provide a desirable alternative to typical apartment living, offering residents a higher quality rental experience featuring private garages, dedicated outdoor spaces, and open and flexible floor plans."

Onyx+East's CEO, Kelli Lawrence

"Our partnership with Onyx+East and the Monterey project are emblematic of the high-quality, accessible, and affordable homes we are committed to building, renting, and operating," said Matt Johnston, Managing Director and Head of Build-to-Rent at Pretium. "This BTR community will offer Tampa residents a single-family lifestyle of modern, sustainable, and healthy homes with amenities and a location that we know our residents want. With today's national housing supply shortage only intensifying, we will continue to work with our partners to build homes and play a leading role as part of the private capital solution."

Monterey will be located at 1315 N. Himes Avenue. The joint venture purchased the land in February 2022 and the first units are expected to be available to rent in Q4 2023.

About Onyx+East
Onyx+East is a full-service homebuilder executing development, construction, marketing, design, and sales with four offices in the Midwest and Florida. Founded in 2015 to deliver homes in the most desirable locations with an exceptional customer experience, Onyx+East creates places designed for modern living that are connected within growing cities and suburbs. Through creativity, innovation, and sustainability, Onyx+East creates communities that are changing the way people live, work and "do life." For more information, visit onyxandeast.com.

About Pretium
Pretium is a specialized investment firm focused on U.S. residential real estate, residential credit, and corporate credit. Pretium was founded in 2012 to capitalize on secular investment and lending opportunities arising as a result of structural changes, disruptions, and inefficiencies within the economy. Pretium has built an integrated analytical and operational ecosystem within the U.S. housing, residential credit, and corporate credit markets, and believes that its insight and experience within these markets create a strategic advantage over other investment managers. Pretium's platform has approximately $40 billion of assets under management as of February 1, 2022 and employs more than 3,000 people across 30 offices, including London and Dubai.

Spotlight

The USA Science & Engineering Festival is the country’s only national science festival. It was developed to increase public awareness about the importance of science and to encourage youth to pursue careers in science and engineering by celebrating science in much the same way as we celebrate Hollywood celebrities, professional athletes and pop stars.


Other News
ENGINEERING TECH

Linesight's Commodity Report Shows Volatility in Construction Material Prices to Remain in 2022

Linesight | May 02, 2022

Linesight, a global construction consultancy firm, expects prices for construction commodities to remain high and volatile in 2022, despite a predicted stabilization in the market many thought would come to fruition in Q1. Leading up to the end of 2021, many believed the pandemic-related supply chain issues would begin to ease off and allow for a stabilization of the market, but the Russia-Ukraine crisis has deeply affected the situation; both directly, due to the primary production of specific materials stemming from those countries, and indirectly, due to the conflict's overall effects on the global supply chain. Despite the prevalent risks at play stemming from the ongoing conflict and the materials pricing and availability issues these risks are likely to impose on the market the US construction industry is expected to grow in 2022 by 4.5%, according to the US Bureau of Economic Analysis. This recovery in the construction industry is anticipated to be primarily fueled by an acceleration of activity within the residential sector, which will only drastically increase the demand for the materials needed in that sector, most importantly concrete, cement, and other aggregates, further driving up the prices. Other contributing factors to the expected recovery include a rising demand for new buildings and infrastructure in the life sciences, high tech manufacturing, and public infrastructure projects. In 2022, with prices and availability for essential construction materials like copper, lumber, steel, and cement continuing to remain unreliable, and directly impacting construction output, the total construction output for the US in 2022 will likely end up around $1.672 trillion. This would represent a year-over-year gain of 4.5%, after 2021 saw a total construction output of $1.599 trillion. Further findings from Linesight's first-quarter Commodity Report and price forecast, which is based on interviews with over 160 industry experts across the globe, include: Prices for lumber saw the largest quarter-to-quarter price increase from 2021 Q4 to 2022 Q1 for the commodities tracked in the report, starting at $8.5/cu ft in Q4 of 2021 and rising 79.5% in Q1 of 2022. It is forecasted that lumber prices will continue to rise through 2022, mostly due to the increase in tariffs on Canadian lumber imports into the US, with an expected price of $16.1/cu ft. Raw material prices for steel also saw a significant quarter-to-quarter price increase from 2021 Q4 to 2022 Q1, with steel rebar rising 4.7% and steel flat rising 8.9%. This trend is expected to continue due to the Russia-Ukraine conflict, who are collectively attributed with around 60% of the US's imports of pig iron. With construction activity ramping up, demand for steel will be high in 2022. This will probably be reflected in the price of the materials, as Linesight’s report predicts a year-over-year increase of 12.2% and 17.2% on steel rebar and steel flat, respectively, with a forecasted price of $1,177/t for steel rebar and $2,182/t for steel flat in 2022. Just as the acceleration of construction activity has greatly affected the pricing of steel, it is also expected to do the same for concrete, cements, and other aggregates, with increased demand for infrastructure being another major factor driving the prices up. Cement and concrete already saw a 3% increase in pricing from Q4 of 2021 to Q1 of 2022, and it is forecasted that they will climb another 7.7%, with a projected price of $139/t for cement and $144/cu yd for concrete in the latter half of 2022. Other significant quarter-to-quarter price increases from 2021 Q4 to 2022 Q1 found in Linesight's first-quarter Commodity Report included welded mesh rising 32.6%, diesel fuel rising 17.1%, and asphalt rising 8.1%. “Despite the anticipated stabilization of materials costs, due to ongoing global issues, 2022 is expected to be another challenging year for the construction industry that will bring with it many disruptions, both in the supply chain and in the overall productivity of the industry, But due to these continued disruptions, we are beginning to see major strategic changes in approach to procurement and supply chain management to minimize risk on construction projects. Many are looking to overhaul their approach, with some projects moving away from the ‘Just in Time’ model, others looking at reducing waste within the supply chain, building out back-up plans rather than being reactive to disruptions, building stronger and more diverse supplier relationships, and engaging early with all stakeholders to put in place strategies geared towards greater certainty regarding cost and schedule.” Patrick Ryan, Executive Vice President, Americas, Linesight About Linesight Linesight is a multinational construction consultancy firm with over 48 years' experience, providing cost, schedule, program, and project management services to a multitude of sectors including Life Sciences, Commercial, Data Centers, High-Tech Industrial, Residential, Hospitality, Healthcare, and Retail. Linesight's specialist project teams, each with specific skills and experience, provide better predictability of project outcomes, faster project delivery, greater cost efficiency, and maximum monetary value for its clients.

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ENGINEERING TECH

Japan's Largest Construction Company, Obayashi, Selects Innoviz's LiDAR for its New Proprietary Automatic Tower Crane System

Obayashi Corporation | December 18, 2021

Innoviz Technologies (Nasdaq: INVZ), a leading provider of high-performance solid-state LiDAR sensors, and Obayashi Corporation (TYO: 1802), a major Japanese construction company, announced Obayashi's development of an automated tower crane system that utilizes Innoviz's LiDAR sensors. Obayashi's automated tower crane system is part of its recently announced autonomous solutions for excavation equipment, construction of concrete dams and backhoe loaders.Obayashi began using Innoviz's LiDAR on their sites in 2018 and is currently in the process of developing a full-scale system for building sites throughout Japan. Obayashi's recognition software extracts the data generated by Innoviz's LiDAR to measure the exact distance from objects and identify people and equipment in construction areas. Obayashi's system uses the data to send a series of step-by-step warnings to the crane operator, which enhances safety and enables a more streamlined and efficient process. Using Innoviz's LiDAR together with Obayashi's proprietary software has resulted in substantial savings related to the manual operation of the crane. Obayashi's engineering team said: Obayashi has been testing Innoviz's products for three years now, and we have great confidence in the company's solutions. We are very satisfied with Innoviz's LiDAR performance, reliability, and durability. "We were thrilled to see the result of Obayashi's use of our LiDAR. This is a cutting-edge solution and a true testimony that our LiDAR can be used in a significant number of use cases. We believe we will see more partnerships like this come to fruition. Additionally, we're grateful to our distributor and partner, Macnica, for connecting us with Obayashi's innovative team." -Omer Keilaf, Co-founder and CEO of Innoviz Technologies Innoviz is represented in Japan by Macnica, the country's largest distribution company. About Obayashi Corporation Obayashi Corporation was established in 1892 and is one of the five super general contractors in Japan. Its main business is construction, including regional development, urban development, resource and energy development, and environmental development, as well as civil engineering, including research, surveying, planning, devising, design, and supervision. The company has approximately 15,000 employees and 21 offices in 14 countries. The company has a high level of technology backed by history and tradition, and actively introduces new technologies. For more information on Obayashi's autonomous solutions, please click here.www.obayashi.co.jp About Macnica, Inc. Since its establishment in 1972, Macnica has been providing leading-edge semiconductors, electronic devices, networking and cyber security products with added technological value. In recent years, Macnica has been developing new businesses in the fields of AI/IoT, automated driving, and robotics, based on its traditional strengths of global sourcing of cutting-edge technologies and technology planning. The company is headquartered in Yokohama, Japan, and conducts global business based on 85 offices in 23 countries around the world. For more information, please visit Macnica's website at www.macnica.com. About Innoviz Technologies Innoviz is a global leader in LiDAR technology, working towards a future with safe autonomous vehicles on the world's roads. Innoviz's LiDAR and perception software "see" better than a human driver and reduce the possibility of error, meeting the automotive industry's strictest expectations for performance and safety. Operating across the U.S., Europe, and Asia, Innoviz has been elected both by an internationally-recognized premium car brand for use in consumer vehicles as well as by other commercial and industrial leaders for a wide range of use cases. For more information, visit www.innoviz.tech.

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CONSTRUCTION

Buildots Announces Scheduling Integrations With Planning Platforms for Advanced Progress Tracking

Buildots | April 28, 2022

Buildots, which uses AI and computer vision to modernize construction management, announced scheduling integrations that will feed data directly from construction sites to planning platforms, automating the process by which teams update and understand progress. Construction teams depend on project planning platforms like Oracle Primavera P6, Asta Powerproject and Microsoft Project, which require manual input to update progress and schedules. This means that site teams regularly and manually compile progress reports - a laborious and time-consuming process. Beyond gathering information from unaligned sources, it often requires referring back to building sites to double and triple check gathered information. Buildots provides a single source of truth for construction site activities. By collecting data with hardhat-mounted 360° cameras and processing this data with AI, its solution enables teams to keep construction on schedule and flag mistakes in real time. Buildots' new integrations create a direct sync between on-site activities and project planning platforms. This provides teams with coherent information in real time, enabling them to understand progress and better predict when projects will end. By feeding data directly to planning platforms, these integrations automate real-time progress into scheduling, enabling schedule owners to allocate more time to decision-making instead of organizing and sifting through data collected from sites. "After seeing our clients manually updating their schedules based on the data provided by our platform, we immediately saw the potential for freeing up managers' precious time on site, The highly accurate data that is now automatically fed into schedules will help planners provide better estimates and respond more quickly to developments affecting their projects." Roy Danon, co-founder and CEO of Buildots About Buildots Buildots is a Tel Aviv and London-based startup leveraging the power of AI and computer vision to modernize the construction management industry. Buildots uses hardhat-mounted cameras to capture imaging of every detail of an ongoing project during regular site walks. The data is then analyzed using AI models to transform random visual data into highly accurate, actionable insights that are correlated with the project's designs and schedule.

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MATERIALS

LandSouth Continues Long-Time Partnership with Developer by Breaking Ground on Presidium Park

LandSouth | December 22, 2021

LandSouth Construction, a Jacksonville, Fla.-based, award-winning general contractor, broke ground for the construction of Presidium Park, an upscale multifamily community in Jacksonville, Florida. The developer for Presidium Park, Presidium, continues a long-time relationship between the two groups. The four-building complex will be located at 8181 AC Skinner Parkway in Jacksonville and is scheduled to be completed late 2023. "It's great to continue our partnership with Presidium and we're excited to offer a beautiful, new development to the growing Jacksonville area,LandSouth and Presidium have come together several times to bring amazing multifamily communities to life. Presidium Park is the next to showcase both organizations' commitment to innovation and excellence." -LandSouth President and CEO, James Pyle. Louis Fegan is the LandSouth project manager for Presidium Park and Brad Chilton is the superintendent, continuing their successful partnership. Dwell Design Studio is the architecture firm for the development. Presidium Park will be a 4-building, midrise, 5-story development featuring 33 different types of units. Future residents will have the choice of floor plans that range from 616 square feet to more than 1,703 square feet, both single and multi-bedroom. Presidium Park will offer residents a clubhouse, two-story amenity center, swimming pool with pavilion, car spa, and several high-end amenities. Presidium Park boasts proximity to area entertainment and restaurants, including St. Johns Town Center. In addition, Presidium Park is close to the University of North Florida. "Jacksonville continues to grow at a remarkable rate and Presidium Park will provide more luxury housing for the people of Jacksonville,Presidium and LandSouth have a long history of bringing best-in-class communities to life and I'm thrilled to lead the way on Presidium Park." -Louis Fegan, the LandSouth Project Manager. LandSouth will employ its unique integrated construction approach to build Presidium Park. Service components work together to provide a seamless delivery system through proven procedures, systems, and technology. ABOUT LANDSOUTH CONSTRUCTION LandSouth Construction, the Southeast's premier general contractor, specializing in multifamily, senior living, and mixed–use development, was named one of Engineering News Record's Top 400. Since 1998 LandSouth has transformed ideas into best–in–class communities. Headquartered in Jacksonville, Fla. LandSouth has completed more than 25,000 multifamily units. For more information, call LandSouth Marketing Manager, Erica Zumstein, (904) 273-3182, Ext. 109 or visit www.landsouth.com. ABOUT PRESIDIUM Founded in 2003, Presidium is a fully integrated real estate firm with an 18-year operating history and an existing portfolio totaling over $2 billion AUM. Presidium is committed to providing best-in-class housing for individuals of all income levels and creating great spaces that enhance people's lives. For more information about Presidium, visit www.presidiumre.com.

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Spotlight

The USA Science & Engineering Festival is the country’s only national science festival. It was developed to increase public awareness about the importance of science and to encourage youth to pursue careers in science and engineering by celebrating science in much the same way as we celebrate Hollywood celebrities, professional athletes and pop stars.

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