News In Brief $1 billion acquisition
Homes for Texas SGB Development
Autodesk, Inc. has signed a definitive
Corp., a wholly
agreement to acquire Portland, Oregon-
owned subsidiary
based Innovyze, Inc., a global leader in
of SG Blocks, Inc.,
water infrastructure software, for $1
has executed a
billion net of cash subject to working
contract to acquire
capital and tax closing adjustments.
and develop an
The acquisition positions Autodesk as a
approximately
technology leader in end-to-end water
seven-acre site
infrastructure solutions from design
in Austin, Texas,
to operations, accelerates Autodesk’s
which is expected
digital twin strategy, and creates a
to yield a maximum
clearer path to a more sustainable and
of 225 condo units
digitised water industry.
that will be sold
“We can achieve a more sustainable
at market rates.
planet, but we can’t do it without
The project is ‘as
responsibly managing our use of water
of right’ and is
and securing its future,” said Andrew
anticipated to start in Q3 2021 after the planning and approval process.
Anagnost, Autodesk president and CEO.
Above: Plan for proposed American Way development in Austin, TX. (Photo: Business Wire)
The project will be funded by third party debt and equity sources and will be
“An estimated $1.9 trillion is required
fabricated at SG Echo, the company’s manufacturing plant, in Durant, Oklahoma.
to address global water infrastructure
Upon completion, the net profit on the sale of the condo units is estimated to be in
needs by 2030, and by fundamentally
excess of $20 million. Units will be built modularly and will target young professionals,
changing the way systems are designed,
millennials, and those looking for waterfront living.
constructed, and operated, we are best
“We love the Austin market, and our site on the Travis River will provide exceptional
positioned to overcome this challenge
apartments and lifestyles, in a city many see as the next Silicon Valley,” Paul Galvin,
and realize the better world we’ve
Chairman and CEO noted.
imagined.”
Boston development
Comfort for passengers The Elevator and Escalator Division of
BioMed Realty has acquired an existing
Mitsubishi Electric US, Inc., headquartered in
162,000 square foot office building and
Cypress, California, has unveiled PureRide™
adjacent 7.5 acre site at Assembly Square in
Vertical Transportation Solutions. The
Somerville, Massachusetts. The Assembly
PureRide™ suite of solutions helps
Square campus will be developed in
customers improve the usability and
phases and represents a total of 1.3 million
convenience of elevators and escalators
square feet of best-in-class, purpose-built
as society moves toward creating a more
innovation space for research, technology,
comfortable, resilient, and user-friendly
and life science tenants.
transportation environment.
“Our vision for the Assembly Square
Included in PureRide™ Vertical
location is to create a premier innovation
Transportation Solutions is the PureRide™
campus where science and technology
Touchless Control System, a simple, no-touch display that allows users to call an
intersects,” said Sal Zinno, Vice President
elevator from the lobby and designate a destination floor in the car by simply placing
with BioMed Realty. “With close proximity
their hand or finger over a sensor. The panels feature an LED ‘halo’ that centralizes
to downtown Boston, the airport, a major
the sensor’s target and provides users feedback regarding their hand position. The
interstate highway, public transit and
halo illuminates to indicate to the passenger that the call has been registered.
adjacent amenities including restaurants,
The PureRide™ suite also includes the Touch Free Smartphone Elevator Call
entertainment and new retail, it’s an
System— a smartphone application that works with destination dispatch systems
ideal location and size for a large life
and buildings’ access control systems to allow passengers to summon a car from
science company to establish a prominent
their phone while inside the building. The application displays both the assigned
headquarters.”
elevator as well as its current status. It also sends an alert to the passenger as the car approaches, resulting in less crowded waiting areas and improved rider comfort.
18 WWW.CONSTRUCTION-TODAY.COM