NERI Article: Emerging Technologies from MIT’s REI Lab
Read the National Real Estate Investor article about the MIT Real Estate Innovation Lab research on the future of the built environment and how design and technology will affect the way humans live, work and play.
“The MIT lab is exploring the future of the built environment and how design and technology will affect the way humans live, work and play. The lab has two research projects underway. One involves the development of a geometric, geospatial relational database of Manhattan that includes rents, transaction prices, building mortgages, co-working spaces, cell towers, fiber optic cables, subway lines and more. Chegut notes that datasets like that will make it easier to understand the industry’s future.
But the team is also developing Real Estate Innovation Life Cycle, a visualization of real estate product innovations and how they change over time. This product will be used as an industry framework for tracking and harnessing innovation impacts. She notes that this will help prepare buildings for a physical transition every five to 10 years as newly developed technology is adopted.
Benjamin Breslau, managing director, Americas research, at real estate services firm JLL, which is a founding partner of the MIT lab, says that investors should consider technology that (1) automates and helps them run their business more efficiently; (2) impacts the size of tenant spaces and future-proofs buildings throughout their lifecycle; and (3) collects data for analytics useful in running buildings efficiently.” -NREI | November 2018