Archistar (Artificial Intelligence)

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Archistar (Artificial Intelligence)
Private
Industry
  • Artificial Intelligence
  • Property Development
FoundedApril 2010; 11 years ago (2010-04)
FounderBenjamin Coorey
HeadquartersSydney, New South Wales,
Australia
Websitearchistar.ai

Archistar (founded in April, 2010) is a property technology company,[1] that uses artificial intelligence algorithms to generate building layouts.[2][3]

History

Archistar was founded by Dr. Ben Coorey, a regenerative designer.[4] By the Digital Design 2020 event, organized by the Institute of Digital Design Australia (IDDA), Archistar had developed a program (the Archistar Parametric Site Maximiser - APSM) which could work out analytics of architectural designs and give "real-time analytics with no coding required"[5], mixing technology and real estate.[6][7]

Property development

In 2019, CoreLogic and Archistar reviewed over 500,000 properties across Australian cities (Sydney, Melbourne and Brisbane),[8][9] in a bid to "meet the demand for more affordable housing",[10] they identified the properties suitable for granny flats which added up to 30 percent of the value of properties for their owners.[11][12]

Artificial intelligence and funding

In 2018, former CEOs of Foxtel, CoreLogic and CBRE invested in Archistar's PropTech project, this artificial intelligence platform (APSM),[13][14] enables users to assess potential value of developmental sites and know which projects were allowed on developmental sites in Australia.[15][16]

In 2020, the Government of New South Wales integrated Archistar into their Spatial Digital Twin Map for City Planning.[17][18]

In the media

        

References

  1. "Subscribe to The Australian | Newspaper home delivery, website, iPad, iPhone & Android apps". www.theaustralian.com.au. Retrieved 2020-04-30.
  2. "The Future of Property Development - a night at the Archistar Roadshow". Metropolis. Retrieved 2020-05-02.
  3. "architect magazine/technology/can-algorithms-design-buildings_o". www.architectmagazine.com. Retrieved 2020-04-30.
  4. "NSW launches Spatial Digital Twin". Information Age. Retrieved 2020-04-30.
  5. Object, object (2017-02-01). "Design Institute Unveils Game Changing Software Platform". The Urban Developer. Retrieved 2020-04-30.
  6. "World-first technology to generate 3,000 building designs per hour | Property HQ". Commercial Real Estate for Sale. 2017-11-02. Retrieved 2020-04-30.
  7. "World-first technology to generate 3,000 building designs per hour | Property HQ". Commercial Real Estate for Sale. 2017-11-02. Retrieved 2020-04-30.
  8. AUSTRALIA, PROPERTY. "Hidden value lies wait in Australia's granny flats". info.propertycouncil.com.au. Retrieved 2020-04-30.
  9. "Georg Chmiel chats with Ben Coorey on how to turn neighbours into millionaires". www.propertyobserver.com.au. Retrieved 2020-05-02.
  10. Karen</a>, <a href="/author/skaren" title="View all articles from Sasha Karen">Sasha; Karen, Sasha (2019-06-17). "Suburbs that could jump 30% in value revealed". www.smartpropertyinvestment.com.au. Retrieved 2020-04-30.
  11. Tacadena, Gerv. "Why the perfect time to build a granny flat is now". Your Mortgage. Retrieved 2020-04-30.
  12. "Granny flats: new report reveals they can offer big price boosts - realestate.com.au". www.realestate.com.au. Retrieved 2020-04-30.
  13. Writers, Staff (2020-04-16). "AI startup Archistar joins AirTree's portfolio following $6 million raise". Which-50. Retrieved 2020-04-30.
  14. "Heavyweight-backed property start-up closes $6m funding round". Australian Financial Review. 2020-04-13. Retrieved 2020-04-30.
  15. "Former Foxtel, CoreLogic and CBRE bosses back proptech start-up Archistar". Australian Financial Review. 2018-12-04. Retrieved 2020-04-30.
  16. "Australian National Construction Review". Issuu. Retrieved 2020-04-30.
  17. "NSW launches Spatial Digital Twin". Information Age. Retrieved 2020-04-30.
  18. Emma (2019-02-07). "How ArchiStar is helping property professionals find residential development hot spots". The Real Estate Conversation. Retrieved 2020-04-30.

External links

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