Three years ago, Riggs set out to solve that problem and founded Honest Buildings, a technology that empowers smart decision making and ensures capital and construction projects get done on time and on budget. The software empowers real estate owners and managers with access to information on a project, building or portfolio basis in seconds. From procurement all the way through to project completion, the platform creates value by fostering faster project delivery, lower project costs and huge time savings.
“All real estate assets have capital, construction and service contract projects, whether they are within an office building, a warehouse, a store, a school, or a hospital,” says Kubiak. “Today the ways those projects are tracked, using Excel or pen and paper, saved in local and shared drives or email inboxes, is holding back the efficiency of buildings—the places where we as humans spend 90 percent of our time every single day. We see this as a systemic opportunity across every type of building to enhance the way that projects are being initiated, tracked and completed.”
Today Honest Buildings is being utilized by many of the largest commercial real estate owners in the globe including Brookfield, Vornado, SL Green, Beacon Capital Partners, Rudin Management Company, JBG Companies, Parkway Properties, Invesco, and many others. The platform captured the attention of the industry as the only solution built not only specifically for, but in conjunction with the leading innovative owners in the market.
Honest Buildings easily reduced project costs by 5 – 15 percent based on improved visibility and transparency into both the bid process and project progression
This deeply rooted dedication to owners and managers is what drives Honest Buildings’ dedication to embedding hugely technical algorithms to keep thousands of large and complicated projects on time and on budget in a way that users find easy to use.
"Honest Buildings easily reduced project costs by 5 – 15 percent based on improved visibility and transparency into both the bid process and project progression,” says Michael Milstein, Partner at Milstein Properties. “The delta between bid cost and final cost was a lot closer on projects that went through Honest Buildings."
“Visibility into data is allowing Honest Buildings’ users to make better decisions and in real estate that means increasing asset value,” concludes Kubiak.