Real estate development is inherently risky. In order to minimize losses and maximize returns, industry professionals conduct comprehensive studies to determine the risk (and reward) of different scenarios and options. Central to this process are the construction cost estimates.
Developers need a lot of estimates for project analysis
Estimating takes several days
95% estimates are sunk cost
Founded in 2017 to identify the highest and best use of land, Bldbox has since honed in on predicting construction costs for real estate development projects. We do this in seconds as opposed to hours and with a degree of accuracy that exceeds the ability of human experts.