New York City partners with JLL Technologies to operate the Proptech Piloting Program

For over a year, New York City has been looking for a Proptech partner. Finally, the search is over. The New York City Economic Development Corporation (EDC) has selected JLL Technologies to launch the Proptech Piloting Program. The program aims to make the city’s buildings safer, more accessible, and sustainable. The decision to work with JLL Technologies was announced by New York City Economic Development Corporation (NYCEDC) President and CEO Rachel Loeb at the worldwide Propel by MIPIM conference. JLL Technologies will help the city agencies, especially those who serve low-income communities, find vendors that will work on the city-owned and -managed properties.

Proptech, also known as Property Technologies, is the new approach that uses the latest technology innovations and software to improve the real estate market experience. Proptech includes smart home technology, data-driven market insights, mobile and PC software, property management, automation, residential and commercial lending, and more. In addition, proptech helps to reduce energy use and emissions to make buildings more sustainable. JLL Technologies, NYCEDC, NYCHA (New York City Housing Authority), and DCAS (Department of Citywide Administrative Services) will work together to find proptech solutions for more than 400 million square feet of the NYC properties.

“We have chosen JLL Technologies as our partner to help address the city’s unique needs because of their deep knowledge of the proptech sector, a steadfast commitment to sustainability, and an alignment to the program’s goals,” NYCEDC President and CEO Rachel Loeb said in the press release. “This program will go a long way toward rethinking how proptech is used and pave the way for technology to help bridge the digital divide and drive a more equitable recovery."

New York City plans to use proptech solutions to meet the 2019 Climate Mobilization Act. According to Local Laws 92 and Local Law 94, all new buildings are required to be covered with solar panels, green roofs, or a combination of two to reduce carbon emissions. Both Congresswoman Yvette Clarke and New York City Councilmember Robert Holden support the Proptech Piloting Program.

Resources:

“New York City Picks JLL Technologies to Lead PropTech Vetting,” by Philip Russo (Commercial Observer, 2021)

“NYC Seeks Partner to Vet Proptech Tools for Its Real Estate,” by Nicholas Rizzi (Commercial Observer, 2020)

“NYCEDC, DCAS, and NYCHA Announce Operator for Proptech Piloting Program,” by NYCEDC (EDC NYC, 2021)

“Proptech Piloting Program,” (EDC NYC)

“New York City selects JLL Technologies as partner for proptech pilot initiative,” by Juan Pedro Tomás (In-Building Tech, 2021)

“What Is Proptech, and What Does It Mean?” (HQO, 2020)

“What is “PropTech” and why companies are developing it,” by Christina Yoh (Common, 2019)

“Property technology,” (Wikipedia)

“The Climate Mobilization Act, 2019,” (NYC Office of Climate and Sustainability)