WASHINGTON, Sept. 16, 2015 /PRNewswire-USNewswire/ -- Create.io (Create) a new interactive technology platform is helping cities enhance their economic development competitiveness. Create Premium, the second release, launched September 14, 2015. Primary users include investors, brokers, and site selectors.
Create (video) is a property mapping platform for real estate and economic development that organizes data and provides analytical tools in an immersive 3D environment. This "smart city" technology streamlines property analysis, enabling users to quickly research, investigate and evaluate sites for development potential and economic impact. The pilot program launched in DC earlier this year, using open data generated from local and federal government agencies.
"Our technology gives investors and brokers the capacity to rapidly visualize all the factors influencing properties they are considering for acquisition, including those offered through public RFPs, and to evaluate the development impact, even how it relates to the street, adjacent properties and parcels," said Stefan Martinovic, CEO/Founder, Create.io. The Premium release offers enhanced functionality including the ability to export market research and data sets from sources such as Trepp that users can share with stakeholders. Trepp is the leading provider of information, analytics and technology to the CMBS, commercial real estate and banking markets.
Create is an invaluable tool for cities marketing sites. The Washington DC Economic Partnership (WDCEP), one of Create's economic development clients, used Create technology to market sites at ICSC RECon 2015.
"Create provided us a vibrant platform to showcase sites to retailers and investors and, demonstrate what is feasible at a given site," said Chad Shuskey, Senior VP, Research & Visual Communications, WDCEP. WDCEP's research team integrated Create with their own data and mapping platform. "It was particularly helpful to DC team members marketing several large scale redevelopment projects across the city. Being able to illustrate what is conceivable on a site sends a very powerful message to investors you are courting," said Shuskey.
Create Premium adds value in real estate and site selection. Cities can feature sites as part of the site selection process, brokers and site selectors will be better equipped to find the best deals for clients. "Create is a disruptive technology that could ultimately change the way the real estate community evaluates and recommends sites to clients," said Fernando Barrueta, EVP, Colliers International. Create Premium's beta subscription "sold-out" in less than an hour.
Create's free platform currently has over 4,200 registered users in DC; that number is growing daily. Other DC agencies using Create include the Departments of the Environment, Consumer & Regulatory Affairs and, the Offices of Planning, and Zoning. Representatives from other local and state governments are also exploring Create; registered users include representatives in Massachusetts, Michigan, California even Singapore.
Martinovic started his career developing affordable housing in DC. His experience with the limitations of fragmented data sets and the often-onerous requirements and costs associated with site analysis inspired him to develop the technology.
To overcome the budget and administrative constraints faced by the public sector, Create developed an innovative business model that allows cities to implement this technology with absolutely zero cost. "Create establishes an entirely new benchmark of transparency and understanding of property, while simultaneously creating tremendous cost savings for the end user," said Martinovic.
"Imagine the impact Create could have on cities like Detroit, Baltimore or Oakland that are seeking innovative ways to leverage data to attract qualified investors and developers," said Martinovic. "The possibilities are endless."
Background. Create.io, founded in 2011, is a property information platform for real estate & economic development that organizes data and provides analytical tools in an immersive 3D environment.
Founders include Stefan Martinovic, Ed Switzer, a city planner, and Laura Ferguson, an award winning engineer behind CNN's election data technology platform. The product was designed to eliminate asymmetry of property and civic information, and aligning economic development goals of public and private sectors.
Trepp is the leading provider of information, analytics and technology to the CMBS, commercial real estate, and banking industries. Trepp provides primary and secondary market participants with enterprise tools to increase their operational efficiencies and investment performance. Trepp is wholly owned by DMG Information (DMGT).