2022 Spring Issue - 93

OUTLOOK2022
An entire ecosystem of researchers, inventors,
and investors is focused on improving every aspect
of housing construction technology-from design and
research to fabrication-for creative and social impact
that could spur technological innovation and deliver
affordable housing. In the United States and abroad,
builders are deploying state-of-the-art technological
strategies such as in-situ fabrication, smart bricks,
and recycled composite materials as an alternative
to steel and timber. The result: reduced construction
time, lower costs, ease of construction, high-quality
materials, improved health and safety, and increased
service life of buildings.
These technologies may also solve another challenge
facing the housing sector-achieving sustainable
carbon emissions. Prefabrication construction
firms are currently designing and building houses
that achieve net zero energy standards by reducing
energy use, repurposing various materials, and minimizing
waste.
Addressing the Sustainability Imperative
While the construction industry has long been scoffed
at for being one of the least digitized sectors, greater
tech adoption is taking place rapidly as the world
emerges from the global pandemic. For example,
two-year-old ecofriendly builder MultiGreen Properties
is exclusively focused on building attainable,
sustainable, and tech-enabled multifamily real estate
through impact investing.
MultiGreen's initial approach is to construct
40,000 housing units in 10 states by 2030. A signatory
to the Ten Principles of the United Nations Global
Compact, MultiGreen founder and chairman Randy
Norton says the " world's urban areas are increasing
by 200,000 people per day, all of whom need affordable
housing. To rise to this challenge, the construction
and development industries must transform
themselves. "
One way in which MultiGreen is separating itself
from its competitors is the use of digital twin technology.
A digital twin is a virtual representation of an
object or system that spans its lifecycle, is updated
from real-time data, and uses simulation, machine
learning, and reasoning to aid decision-making. It
is rapidly emerging as a tool to help real estate developers
reach their environmental, social, and governance
(ESG) goals by enabling them to visualize how
the asset will perform at every stage of the project's
life cycle.
Use of the digital twin offers the ability to design
and performance-test a project by simulating it before
hammering a single nail, allowing for a much higherquality
result when construction is complete. It can
then improve building operations by monitoring the
building's performance against the original design
criteria.
In EY's May 2021 white paper " Digital twin: the
Age of Aquarius in construction and real estate, " the
authors suggested that the digital twin technology
could cut real estate operating costs by 35 percent.
A technology like digital twin could also help reduce
greenhouse gas emissions by up to 50 percent and
increase energy efficiency in rental homes, which on
average consume 15 percent more energy per square
foot than owner-occupied homes.
The leveraging of digital twins, which use internet
of things-enabled sensors to monitor and reduce
a building's environmental footprint, can drastically
reduce energy use and emissions, which is both
a cost savings opportunity for tenants, landlords,
and owner/occupiers, and a social responsibility to
address climate change. The result: disadvantaged
communities can achieve equitable energy outcomes
that reduce costs and improve the quality of life,
health, and the living environment of entire communities,
especially those struggling to achieve housing
affordability.
Conclusion
Without question, the pace of technology adoption
accelerated-within buildings and beyond-as the
world slowed down these past two years. Yet, one
unintended consequence of this shift to the virtual is
the dramatic inequity in technology access and use
exposed by the pandemic.
With exposure of the depth and impact of this
inequity comes a clear call to action. If there is a
lesson to be learned, it is that the solutions available
right now for housing and technology are intertwined
and must operate together as the world emerges
from the pandemic. Both are vital contributors to
necessary advances in education, health, and other
dimensions of human growth, equity, and economic
development. UL
KYLE BOLDEN, a member of ULI's Technology and Real Estate
Council (Blue Flight), is the U.S. east region market segment
leader-real estate, hospitality, and construction sector for EY. He is
based in New York City. The views reflected in this article are those
of the author and do not necessarily reflect the views of Ernst &
Young LLP or other members of the global EY organization.
SPRING 2022
URBAN LAND
93
2022 Spring Issue

Table of Contents for the Digital Edition of 2022 Spring Issue
