Innovative NYC Pilot Aims to Bring Proptech to All

UrbanSense is proud to announce we are partnering with JLL Technologies (JLLT) and the City of New York to extend the benefits of “proptech” — technologies that transform how we interact with and operate real estate — to traditionally underserved assets within the City’s vast 491MM square foot real estate portfolio. These properties include those operated by the New York City Department of Citywide Services Administration (DCAS), the New York City Housing Authority (NYCHA) and the New York City Economic Development Corporation (NYCEDC).

Aside from bringing technologies— such as software, sensors and IoT — that have traditionally been applied to Class A and luxury environments into City properties, the project intends to directionally influence one of New York’s fastest growing technology sectors. While the proptech industry in New York has been growing due to the city’s unique real estate ecosystem of vast holdings, support services, proximity to wealth and market stability, its workforce has traditionally underperformed in terms of diversity and inclusion. For example, a 2020 Women in PropTech report found only 9% of proptech founders are women. This phase of the project will identify solutions that address the needs of affordable housing and underrepresented Class B and C assets, as well as source diverse startups to implement pilots.

The program is intended to work as follows: In Phase I, known as “Sourcing and Diligence,” UrbanSense and JLLT will work with city agencies to understand their most pressing needs and then play matchmaker between the agencies and NYC’s ecosystem of proptech startups to identify technologies to pilot. A major barrier to startup success is the lack of piloting environments so the availability of live, city-owned assets will be a major force for proptech advancement. In a future Phase II, the City will select a Pilot Implementation Partner to oversee the deployment of the pilots.

We expect to see great outcomes from this work including a more proportionally represented proptech workforce, a boosted proptech industry in New York City and direct benefits of the technologies themselves — better human experiences, increased equity and health, and greater climate sustainability. If successful, New York City could lead the way, setting an example for how other cities can solve intersecting problems by forging partnerships to test tools, boosting and transforming local economies and industries, and benefiting people they serve.

Are you a proptech company that wants to be involved? Click here.