In New York City, some buildings are labeled “Pre-War” or “Post-War” to classify the quality and time period of their construction. More recently built developments are simply called “new construction,” but what about buildings of the future? With the meteoric rise of PropTech, the idea of a fully “smart building” is closer to reality than ever before – one with integrated technologies, automated processes, and on-demand services at the forefront.
Enhanced Liveability: What a Smart Building of the Future Looks Like.
“A state-of-the-art smart building of the future would be designed to provide enhanced liveability, comfort, and accessibility to its residents,” says Eric Brody, Managing Partner of ANAX Real Estate Partners, a privately-held, New York City-based real estate developer, lender, and investment firm. This was part of the reason, Eric, alongside his partner Marc Dupiton also launched ANAX Ventures, an early-stage investment fund that is bullish on the future of PropTech and ConTech, that is at the forefront of integrating cutting-edge technology into future developments. ANAX Ventures has invested in 11 technology companies that are improving how building’s are built and developed, some even focused on sustainability, reducing carbon footprints, and innovative safety measures.
So, what do buildings of the future look like?
Sustainability at the Forefront
Sustainability is a crucial aspect of a state-of-the-art smart building of the future. With the rising demand for sustainable infrastructure solutions that can help mitigate climate change impacts while also reducing operational costs for building owners and operators, smart buildings are becoming a preferred choice. According to a report by Grand View Research, the global smart building market is projected to reach $109.48 billion by 2026 at a CAGR of 12.6%.
From a Developers Perspective
ANAX Ventures’ investments in innovative companies demonstrates the potential for smart buildings to revolutionize the construction industry by making it more sustainable and efficient. As the adoption of PropTech and ConTech solutions continues to grow, we can expect to see more innovative technologies integrated into the design and operation of smart buildings. Two innovative companies in ANAX Ventures’ portfolio are Trusstor and Verobotics:
- A startup focused on reducing carbon footprints is Trusstor – a digitized construction platform that offers intelligence to developers, enabling them to better anticipate problems and resolve issues in a timely, cost-effective and sustainable manner.
- Verobotics is a robotics company that analyzes building upkeep and maintenance, while providing real-time updates on issues so they can be dealt with in time. The solution is centered around safety, as the robot replaces the human usually harnessed down a skyscraper.
A smart building of the future would incorporate energy-efficient systems and sustainable design principles that help reduce the building’s carbon footprint. So, how would all of this work? Let’s take a look at the features expected to be included in buildings of the future:
Technology-Driven: Advanced Systems and Services
As we move toward an era where sustainability is paramount, future smart buildings will rely on advanced energy management systems to optimize resource consumption. These systems will not only ensure energy efficiency but also utilize renewable energy sources like solar panels or wind turbines to power the buildings.
Energy management systems will intelligently distribute energy according to occupants’ needs, adjusting temperature, lighting, and ventilation automatically based on occupancy levels and time of day. Furthermore, energy consumption data will be analyzed and utilized to continuously optimize energy usage, preventing waste and reducing overall costs.
Smart Buildings and Enhanced Connectivity
Future smart buildings will seamlessly integrate various IoT devices and sensors to enable real-time data collection and communication between devices, tenants, and building management. With a strong focus on connectivity, high-speed WiFi and 5G networks will become standard in these buildings, ensuring uninterrupted communication both within and outside the building. This increased connectivity will foster a sense of community among residents, as well as enhance interaction with the local neighborhood.
Another ANAX Ventures-invested startup leading the way to enhance connectivity is Younity. Its software seamlessly integrates with existing infrastructure to manage any building’s smart systems at scale, resulting in lightning fast WiFi for maximum tenant productivity as well as increased operation efficiency for owners.
Biophilic Design: Merging Nature with Architecture
The integration of nature into architectural design, known as biophilic design, will be a significant aspect of future smart buildings. This approach recognizes the importance of natural elements in our living spaces, aiming to improve well-being, reduce stress, and enhance cognitive function. Future smart buildings may incorporate living walls, rooftop gardens, and natural ventilation systems to achieve these objectives. Additionally, the use of sustainable building materials and the reduction of waste during construction will minimize the environmental impact of these structures.
Health and Wellness Monitoring in Smart Buildings
In the future, smart buildings will prioritize the health and well-being of their occupants by incorporating advanced monitoring systems. These systems will track air quality, temperature, and humidity levels to maintain optimal living conditions. Furthermore, they will also monitor noise levels, adjusting soundproofing materials or generating white noise to create a more peaceful environment.
Smart Security Systems
Smart security systems will be a crucial feature of future smart buildings, with the integration of facial recognition, biometric access control, and advanced surveillance technology. These systems will provide enhanced security and safety for residents while also streamlining access and simplifying building management tasks. In addition to physical security measures, smart buildings will adopt robust cybersecurity protocols to protect sensitive data and maintain privacy.
Adaptive and Flexible Spaces
Future smart buildings will feature adaptive and flexible spaces designed to accommodate changing needs and preferences. These spaces may include modular layouts that can be easily reconfigured or transformed, as well as smart furniture that can adapt to different functions. This adaptability will allow residents to customize their living spaces to suit their lifestyle, whether they require a home office or an extra bedroom for guests.
Real Estate Industry Facts and Figures
The smart building market is expected to reach $105.8 billion by 2024, growing at a CAGR of 11.8% from $60.7 billion in 2019, according to MarketsandMarkets. The report states that the major drivers of this growth include the rising demand for energy-efficient systems and the need to reduce carbon emissions, the increasing use of IoT devices and sensors, and the development of smart cities and buildings.
The adoption of smart building solutions is also expected to rise due to the growing focus on improving the health and well-being of building occupants. According to a report by the World Green Building Council, the global market for green building materials is expected to reach $234 billion by 2030, driven by the increasing demand for sustainable and healthy building materials.
The adoption of smart building solutions is also being driven by the growing popularity of flexible working arrangements such as remote work and co-working spaces. Smart buildings can provide a more flexible and agile working environment that allows for remote access to building systems, data, and services. This enables workers to access the tools and resources they need to be productive, regardless of their physical location.
Benefits for Building Owners and Operators
In addition to the benefits for building occupants, smart buildings also offer significant advantages for building owners and operators. For instance, a smart building can help reduce operating costs by improving energy efficiency and reducing maintenance costs. By automating building systems and using real-time data to optimize operations, building owners can reduce energy usage, lower maintenance costs, and improve the overall efficiency of the building.
Smart buildings can also help improve the asset value of a property. With the rising demand for sustainable and technology-driven buildings, smart buildings are becoming increasingly attractive to potential tenants and buyers. By incorporating advanced technologies and sustainable design principles, building owners can increase the value of their properties and attract a wider range of tenants and buyers.
Finally, smart buildings can also help improve risk management and compliance. By incorporating advanced security systems and resilience measures, building owners can minimize the risk of disruptions and ensure compliance with regulatory requirements.
Conclusion: The Future of Smart Buildings is Bright
In conclusion, a state-of-the-art smart building of the future would be designed to provide enhanced liveability, sustainability, and technology-driven systems and services. With the incorporation of advanced technologies and sustainable design principles, smart buildings are becoming increasingly popular in the real estate industry.
As the smart building market continues to grow and evolve, we can expect to see an increasing focus on data and analytics, advanced technologies, and sustainable design principles that will help create a more sustainable and resilient built environment for generations to come.