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Investing in Smart Buildings – The Living, Breathing Structures

Smart Buildings and Smart Homes

While state and city governments are striving to invest in IoT and smart city technology that deliver energy efficiency, smarter governing solutions, and convenience to their citizens, who else can contribute and how? During Eddy’s IoT PropTech Summit 2020, a panelist remarked that smart construction leads to smart buildings and smart buildings to lead to smart cities.

We cannot agree more – smart buildings are, key components of a smart city.

In this blog, we look at why real estate developers, construction companies, and property managers (of commercial and multi-family residential buildings) should invest in IoT and PropTech to make their properties smarter. We also look at where they should invest. There are a lot of opportunities for all stakeholders to contribute and they have a slew of technology (read sensors, big data, AI, and ML). to aid them in their quest.

Data collected through IoT sensors , and the insights gleaned from that data through big data analytics help manage resources like water, gas, and electricity efficiently. More and more entities are using digitalization to become smarter right from the pre-construction stage to the post-occupancy stage. The digital transformation helps reduce energy consumption and meet sustainability goals at every stage of a building’s life cycle. During construction, analytics helps to see 100% of the building’s systems on an ongoing basis to ensure that the building is being delivered to the specifications and the high-quality standards expected of modern buildings.

Managing customer experience and stakeholder experience is important for property owners and managers. While it is natural to think of convenience, ambiance, and comfort immediately, safety and energy/resource management lay the proper platform for providing an excellent customer experience. Months of good work on the customer experience front can be undone by major damages due to fire, water, and gas leakage. IoT and PropTech integration allow businesses to proactively protect their assets; it’s economical to invest in preventative measures than to wait for failures to occur.

Take for example water: water damage is the number one risk to property, accounting for billions of damages in North America. Eddy helps to manage water efficiently by monitoring water usage. The system also learns your usage patterns and takes corrective action if there is an abnormal flow of water or a leak. Since its inception, Eddy has helped numerous properties save water and prevent catastrophic damages.

Security is another important aspect. The security segment targets the prevention/detection of burglaries, emergency calls, and access control. This segment is driven by-products such as smart locks (keyless entry), and smart security cameras. Customized experiences such as in-suite heating and cooling, smart lighting systems, and voice-assisted gadgets are other elements that add to enhanced customer experience.

The competitive advantage gained by investing in a smart building is simply too huge to ignore. Unless you want to say no to better ROI, better operational efficiency, and customer delight. Our buildings are no longer just buildings – they need to be living, breathing structures that take care of themselves and their tenants seamlessly.

About the Author: Parthi Radha

Parthi Radha is a marketing professional and is currently working with Eddy Solutions as an Events & Digital Marketing Specialist.

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Paul Pathak​

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Paul Pathak is a partner of Chitiz Pathak LLP. Paul practices principally in the areas of corporate, securities, corporate finance, mergers and acquisitions and commercial law. He represents and provides sophisticated guidance to private and public corporate clients in a broad range of industries, including mining, technology, manufacturing, venture capital and merchant banking.

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George Krieser founded Total Credit Recovery Limited (“TCR”) in 1980 and is the President and Chief Executive Officer. TCR is the largest 100% Canadian-owned and operated collection agency, solely collecting Canadian debt. George previously served as a Director of Universal Energy. He also served as a member of the board of directors of Baycrest Foundation and as a member of the fundraising committee for UJA Federation of Greater Toronto.
Gary Goodman​
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Gary Goodman is a Trustee and Chair of the Audit & Risk committee of Boardwalk Real Estate Investment Trust., a former Chairman of Huntingdon Capital Corp., trustee of Gazit America & Brightpath Early Learning, and is a member of the advisory boards of the Vision Funds. Gary was previously Executive Vice President of Reichmann International where he served as a senior financial executive and trusted advisor for over 30 years.

Chris Gower

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Chris Gower started his career in construction on the tools – framing houses, where he grew a deep appreciation for the trades. Prior to his current role as Chief Operating Officer, Buildings at PCL Construction (“PCL”), Chris held positions including construction risk manager, senior project manager, district manager and regional vice president. Throughout his more than 25 years at PCL, he has delivered iconic construction projects across Canada, Australia and the United States.

June Thomson

EVP, Sales, Marketing
& Business Development

June joined the Eddy team coming from Enercare after 10+ years in various roles, most recently as Vice President of the North American Builder Division. June has been in the HVAC industry for over 41 years, holding several roles throughout her career from Technician to Provincial Offences Officer.

Saj Khan

COO & President

Sajid Khan helped launch Eddy Solutions and has been in the role of Chief Operating Officer since inception. With more than 20 years of leadership and operational experience in the home services sector, Saj has held roles such as COO of Eco Energy Service, Vice President of Operations at both National Home Services and Universal Energy.

Boris Baril

CFO

With more than 25 years of financial experience, Boris has held both public and private company CFO roles; supported two (TSX listed) initial public offerings (IPOs), debt and equity capital raises, and M&A transactions. Boris graduated from York University and is a CPA, CA.

Mark Silver

CEO & Chairman

Mark L. Silver is President of Optus Capital Corporation. Mr. Silver has made significant real estate investments in both development stage and income producing properties in the residential, commercial and industrial sectors over his 35 year business career. Over the last 22 years, these investments have been made through his company, Optus Capital Corporation. Mr. Silver was a founding partner and Chief Executive Officer of Universal Energy which was sold in 2009 to Just Energy Group Inc. He co-founded Direct Energy Marketing and grew the company to over $1.3 billion in revenues before selling to Centrica PLC (also known as British Gas) in 2000.