Prescient

Prescient was a construction-technology firm founded on September 1, 2012, by John Vanker, a real estate executive, Michael Lastowski, an architect and structural engineer, and Satyen Patel, an entrepreneur. The founders, having experienced the inefficiencies of traditional construction, started the company with a vision to modernize the industry. Michael Lastowski, with a Master's Degree in Structural Engineering, brought deep technical expertise to the venture.

The company developed a proprietary digital design-build system focused on the multi-unit housing and hotel sectors. This system integrated architectural design, engineering, manufacturing, and assembly through a unified digital platform. Prescient's core business involved manufacturing a 'kit-of-parts' from light gauge steel, consisting of standardized posts, panels, trusses, and roof decks. This approach enabled the precise, off-site fabrication of a building's superstructure, which was then assembled on-site. The company's platform was engineered to a precision of 1/32nd of an inch, allowing for detailed coordination of mechanical, electrical, and plumbing (MEP) systems within the design.

Prescient's business model targeted developers, general contractors, and architects, offering a turnkey solution to reduce construction time, costs, and project risks. By standardizing components and leveraging manufacturing automation, the company aimed to make housing construction more efficient and affordable. The firm operated manufacturing facilities in Arvada, Colorado, and Mebane, North Carolina. Despite raising significant capital, including a $190 million investment in 2021, the company faced operational challenges. In 2022, it closed its North Carolina plant, followed by layoffs and the eventual closure of its Arvada facility in September 2023, at which point the company ceased operations.

Keywords: construction technology, design-build, off-site manufacturing, modular construction, light gauge steel framing, building information modeling (BIM), digital thread, structural engineering, multi-family housing, hospitality construction, real estate development, property technology, prefab construction, value chain integration, construction automation, sustainable building, attainable housing, steel structures, architectural technology, assembly kits