Brian Prince, President & CEO of Prince Property Group, started using TestFit at his previous job in a national multifamily development firm. As an innovator, he wanted to implement TestFit’s real estate feasibility platform as the bridge between themselves as developers and architects.
They relied on their preconstruction team to create feasibility studies in Bluebeam and SketchUp, which could take 3-4 weeks, leaving them with long “hurry-up-and-wait” periods that hindered progress in their deals.
From 3-4 Weeks to 10 Minutes
With years of experience in multi-family development, he knew improving site feasibility would lead to quicker decisions and underwriting. Initially using TestFit for trial runs, Brian quickly saw the benefit of having the ability to optimize sites with far less wait time.
As the firm hesitated to purchase TestFit, Brian paid for a license on his personal computer and started using TestFit on his deals. By switching to TestFit, Brian eliminated the dependency on other teams and surprised everyone in the firm with his 10-minute site analysis.
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Starting His Own Firm with TestFit
With TestFit in hand, Brian started his own development company, Prince Property Group, doing similar development deals in multifamily from garden urban, podium, wrap to tower. Instead of hiring a large team and increasing his overhead in the beginning, Brian leverages TestFit real-time AI to handle deals he once managed as part of a large team.
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Having done over $400M in multi-family urban infield development, Brian finds TestFit’s presets to be the most valuable. He can quickly generate a site layout with preset configurations and create 12 different schemes in one sitting.
Taking it a step further, he then takes the automatic quantity takeoff in TestFit to get conceptual cost estimates from a general contractor. Combining TestFit’s presets and quantity takeoff, Brian can create a realistic pro forma that gets him to an informed yes/no decision without a full set of schematic drawings.
Easy Hand-Off to Architects
By sharing files on the cloud, Brian works with their architects collaboratively to take their TestFit model to the next level. With TestFit’s custom unit library, he can easily import his standard prototypes and figure out the unit mix and unit count for a deal. With everything fit in this “Rubik’s Cube” as he calls it, he can then share the TestFit model with the architects for further design development.
“I love that more and more architects are using TestFit which makes it more valuable for us as developers. It makes the development process easier and faster for everyone involved,” Brian emphasized. Instead of wasting time on deals that might not pencil, the architects that he works with can focus on projects that will become real buildings based on his pro forma.
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Growing Prince Property Group with TestFit
TestFit’s real estate feasibility platform helped Brian Prince jump-start his development firm without a large overhead on staff and time. Brian no longer needs to wait weeks for feasibility studies, so he can get right to work as soon as he discovers an opportunity, enabling him to act swiftly on potential deals.
As Prince Property Group continues to grow, TestFit remains an integral part of Brian’s development process. With the continuous updates and new features, such as parking structure optimization and mixed-use configurations, Brian sees TestFit as a tool that will only grow more valuable as his multifamily development firm expands.
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