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Evaluating new sites is one of the most time-consuming aspects of property development.
Game-changing software platform ArchiStar has developed a solution that helps users examine hundreds of sites in minutes.
Every property developer has the same question when looking at a site: How much yield will this generate ?
Traditionally, the developer has to manually examine the site to get an idea of its potential, which can take days, or even weeks. And during this time, missed opportunities may come and go.
And now Archistar is using property data providers Corelogic and Cordell to better assist agents and developers analyse a site in a matter of minutes.
ArchiStar is a property technology platform that enables developers to instantly determine the development potential of any block of land.
Many top agents, developers and architects have already subscribed to the platform, including offices from Ray White, LJ Hooker, Raine & Horne and PRD Nationwide.
ArchiStar is founded by brothers Dr. Benjamin Coorey and Robert Coorey. Dr. Benjamin is a global expert in Parametric Architecture and consults to major international firms. Robert is a well-known Sales and Marketing expert.
Using ArchiStar, a property professional can find opportunities, size-up development sites and understand planning controls. In the last two months users have already created over 12,000 designs.
ArchiStar also has upcoming generative features that asses design factors including sunlight and ventilation.
ArchiStar has released Corelogic and Cordell integrations dubbed the “market activity module.”
The new module reveals data such as price ranges for different types of properties in a suburb.
You can also see median prices, which properties are on the market, and which have recently sold.
The module also uses a colour-coded dot system to help users filter the information. Blue indicates a property that’s currently on the market. Grey shows recently-sold properties, which offer useful data about current price trends.
The module also reveals which properties have development applications pending, development applications approved and where construction has commenced.
In each case, you can dig further in to get more specific information about the property or lot.
Development application information reveals exactly what's planned and even the details of the developers themselves.
The market activity module helps users to determine the current state of a market.
It provides data to help them determine if a suburb offers development opportunities. Plus, it offers insight into the level of competition that they’ll face.
Developers also get insight into the top agents in a region. They can see who handles the most listings and has the most success. This then helps them to choose agents for their developments.
Developers can also access the development applications for public buildings. This data shows which regions have infrastructural improvements planned.
Agents can also create opportunities using this DA data. For example, an agent can identify an attractive development using the module. They can then contact the developer to form a partnership. They can even see pending DAs, which allows agents to get the jump on other agents in their areas.
Developers have used Cordell’s cost guides for several years.
They prove very useful with project cost estimation and feasibility analysis.
The integration of this data into Archistar offers users access to development cost information in realtime.
Developers can also access the development applications for public buildings. This data shows which regions have infrastructural improvements planned.
Agents can also create opportunities using this DA data. For example, an agent can identify an attractive development using the module. They can then contact the developer to form a partnership. They can even see pending DAs, which allows agents to get the jump on other agents in their areas.
ArchiStar aim to enhance these modules in the coming months. The platform already provides feasibility information. And it will next provide owner details for the lots that it identifies where available. This will make it even easier for agents and developers to contact a site owner and move things forward.
For more information visit the website.
The Urban Developer is proud to partner with ArchiStar to deliver this article to you. In doing so, we can continue to publish our free daily news, information, insights and opinion to you, our valued readers.
