Having worked on North Texas and Pakistan development projects, Daniyal Awan knows how costly delays can be during construction.
To help remove the cost of construction delays due to change orders, Awan and a team at the development division of Dallas-based alternative investment firm Plutus21 Capital are piloting a project – called 1to1Plans from a recently converted warehouse space in the northwestern part of the city.
"Without a doubt, across all type of design spaces – residential, commercial, visual merchandising – any design-related activity, I've heard again and again, 'I could have saved here,' or 'I could have done this better," Awan, managing director of 1to1Plans and principal at Plutus21 Development, said.
The patent-pending concept has been in the works for two years, and the 11-person team behind it has been spending nearly the past year retrofitting a 3,000 square-foot space with around 1.3 miles of cables and wiring to pilot 1to1Plans. Inside the facility is a 2,500 square-foot high-pixel, walkable LED display that can, at scale, project the floor plans of various building projects.
Digitizing the specs submitted to general contractors and municipalities for approval, 1to1Plans projects them onto its screen. While 1to1Plans' technology could be used by residential and commercial developers, it's initially planning to focus on custom homebuilders, allow architects and potential buyers to walk through the different models and their variations virtually. 1to1Plans hopes the concept cuts back on changes made after construction begins, which it says can add costs to increase between 8% and 14%.
"There's a play that might be very beneficial for model homes that (custom builders) do. For example, right now, Texas is booming. A lot of families are flying in from LA or California to look at model homes," Awan said. "Typically, in one subdivision, there are three model homes… but that's one floorplan. You can look at the range of floor plans that are being offered by the builder in the same community."
1to1Plans soft-launched last month. The initiative is a pilot program under Plutus21 Capital, but Awan says the two operate separately. Plutus 21 Development is the real estate arm of the local investment firm, best known for its focus on blockchain technology and digital assets. According to its website, the firm locally has undeveloped plots and industrial projects, along with multifamily developments in DFW and Karachi, Pakistan. Overall, Plutus21 Capital has around $60 million under its management.
Awan said 1to1Plans could handle about three to four clients per day, charging around $500 per session. He added that the Dallas facility acts as a proof-of-concept after onboarding customers and fine-tuning the technology. It will be looking to open locations in other fast-growing regions, specifically noting Austin as a prime location.
"The whole idea behind it is to eliminate the problem of uncertainty in floor plans," Awan said. "What we want to do is have a one-roof experience, where a potential client for a production homebuilder walks into our studio, and we can walk them through (hundreds of) floorplans that are being offered at their desired subdivision by production home builder."
