In the summer of 2011, Satyen Patel was introduced to John Vanker on a lake in northern Wisconsin. Satyen was an accomplished global executive and software entrepreneur who had just supervised the design and construction of his family’s dream vacation home. John was a real estate developer who - with his partner, architect, and structural engineer Michael Lastowski – was determined to change the way large residential structures were built. John shared his vision and his idea for how a true Building Information Modeling (BIM) approach could be realized using the latest digital technology with an innovative light gauge steel framing system.
Surprised to discover that the construction process for building large residential structures was as problem-ridden as his recent experience with his new lake house, Satyen was intrigued by John and Michael’s idea. He spent the next year speaking to developers, general contractors, architects, as well as process experts and digital disruptors from other industries to gauge the idea’s potential. Satyen became convinced that John and Michael had an idea, which would significantly change the future of the $10-trillion construction industry.
Prescient was Founded
Prescient was founded in September 2012 by John, Michael and Satyen. Their first production site was an old 5,000-square-foot aircraft hangar in Broomfield, Colorado.
Prescient’s first two buildings – The Lofts at Jefferson and University Station – were produced in the old aircraft hangar facility through a labor-intensive, manual process by a small, focused team of dedicated individuals.
First Automated Processes
After successfully proving the concept and viability of the approach, Prescient moved into its first plant on Downing Street in 2014, a 40,000-square-foot plant and office featuring the first automated processes and systems mock-up for customers to view. At that time, the Prescient system was re-engineered and new equipment made it possible to simply assemble...
Checking in to Hospitality
The Hyatt House at Belmar is groundbreaking as the first hotel in its development, as well as for Prescient’s steel framing system and proprietary BIM software providing as much as 35 percent cost savings over traditional materials and reduction of the core construction schedule by up to 50 percent.
Enrolling in Student Housing
For Student Housing projects at Colorado Christian University in Lakewood, the University of Texas at Austin, and the University of South Florida in Tampa, the Prescient System got straight-As for meeting critical on-time delivery dates – all in advance of the new the school year, thanks to construction schedule reduction and elimination of historical framing...
First Senior Living Residence
Prescient completes a five-story independent living facility adjacent to a two-story assisted living facility, 250,000-square-foot, in Lone Tree, Colorado. The Prescient platform is ideally suited for senior living projects as it is the most cost-effective non-combustible building system available, making it a superior alternative to wood-framed buildings, and can accommodate different types of units.
Strengthened Construction Accreditation
Prescient’s Unified Truss Construction Framing System receives an evaluation report (ESR-3745) from ICC Evaluation Service (ICC-ES) providing evidence that the panelized, cold-rolled, light-gauge framing system meets code requirements. Building officials and others utilize the reports to provide a basis for using or approving the system in projects under the International Building Code.
Prescient Expands Facilities
Prescient opened its third facility in the Denver region, a 120,000-square-foot headquarters and manufacturing complex with 10 acres of outdoor storage. The expansion was driven by the growing demand for the Prescient System.
New CEO Magued Eldaief
Former GE executive Magued Eldaief joins Prescient as CEO, bringing a wealth of experience to the company. Eldaief says: “Considering the opportunity to change the face of construction through a genuine end-to-end digital solution from concept to commercialization, I am extremely energized and proud to be leading Prescient.”
Second Manufacturing Facility
Prescient moves its headquarters from Colorado to North Carolina and opens a second manufacturing facility. The new North Carolina facility doubles the company’s total annual capacity to nearly 11 million square feet. The headquarters move marks a milestone for the company, signaling its commitment to future investment and growth throughout the U.S.
Global Leadership Team Appointed
Between March 2017 and September 2018, Prescient hired key executives into critical roles on its global leadership team. Sunil Ghatnekar became CFO. Jeff Johnson was named Managing Director of Prescient’s Real Estate Development group. Jeff Morrow joined as VP of Construction. Todd Meckley became the head of Design and Business Development, while Rich Pond joined...
Prescient Is “Innovator of the Year”
Prescient is named “Innovator of the Year” by Construction Dive, a leading industry news publisher. The 2018 Dive Awards recognize the industry’s top disruptors and innovators. Honorees include companies and executives that are driving breakthroughs transforming the construction industry and shaping its future.
Entry Into Seismic Market
Prescient’s revolutionary digital thread is used for a new student housing complex at UC Davis — its first project in a seismic zone. Prescient is poised to expand beyond the U.S. and is evaluating launching into other markets with a need for seismic-friendly products, like Japan, India, the Middle East and Latin America.