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A Sydney-based technology platform that uses artificial intelligence (AI) to streamline property assessments has partnered with the City of Austin to run a pilot program that it anticipates will serve as a stepping-stone for a wider roll-out in the US.
Co-founded by Dr Ben Coorey and Rob Coorey in 2018, Archistar uses AI to assess local planning rules and restrictions on land plots, helping speed up the compliance check process so that the design and build of a project can commence sooner. Current clients on its roster include Mirvac (ASX: MGR), Ernst & Young, Brookfield and JLL.
The pilot in Texas will see Archistar’s team collaborate with government and housing representatives, ensuring the platform complies with local regulations before a wider-scale rollout is considered.
"Archistar is proud to work with the City of Austin on this vital initiative, which has the potential to revolutionise the building plan review process,” Dr Coorey said.
“By simplifying the often complex task of checking rigorous planning and zoning laws, we aim to uphold the highest building and design standards while significantly reducing time and costs.
“When it comes to property, there is much to consider, from environmental factors to flood controls and tree care requirements. Having access to reliable data early in the process can truly make or break a project."
Today’s announcement comes three months after Archistar revealed it would work with the City of Vancouver on a multi-year project to develop an app on its eComply platform that will allow citizens to upload their designs and check if they meet city regulations.
The proptech has also engaged with governments in Australia, New Zealand, and the UK as it looks to address housing supply challenges in major cities worldwide. To help fund its global ambitions, the company raised $6 million from investors such as Skip Capital and AirTree Ventures in 2021, followed by an $11 million raise in mid-2022 alongside the acquisition of Snaploader.
“This collaboration marks a significant stride towards a more efficient and customer-centric building plan review process,” City of Austin Development Services Department director José G. Roig said.
“At the City of Austin, we are deeply committed to our community's well-being, and we see the potential of technology to drive positive change.
“Leveraging Archistar's powerful tool in conjunction with our existing experts will translate into tangible improvements for our residents and developers."
Archistar chairman Prabhat Sethi added the collaboration represents another thrilling opportunity for the proptech to contribute to solving global housing supply and affordability issues.
“Our innovative technology is poised to drive transformative change across North America as we collaborate with more cities to deliver value,” Sethi said.
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