22 Capital Partners, a venture builder and private equity company, announced that it has selected FedBid, Inc. as a technology partner for its 22 CityLink platform.
Together, with its partners, 22 Capital Partners will lead the development of an ecosystem to build smart cities through technology, education and innovation.
One of 22 CityLink’s first real estate projects is Gramercy District. Gramercy District will be the first ground-up smart city in the Washington D.C. area, located in Loudoun County.
The site is 16.8 acres of prime real estate at the terminus of the Silver Line Ashburn Station metro. The focus for this smart city is to create an innovation campus with the foundation technology and education partners.
A key component of the 22 CityLink smart city approach is reducing total lifecycle costs and creating long-term value for the citizens within the smart city.
“By taking proven, industry-leading supply chain and procurement practices that drive efficiency in purchasing, while also reducing costs and applying them to modern development projects like Gramercy District, it is possible to dramatically increase the return on investment of any real estate development,” said Minh Le, managing partner of 22 Capital Partners.
“We are creating a replicable process for effective and efficient procurement, not only in the construction phase, but throughout the development lifetime. 22 CityLink and FedBid are poised to provide this full lifecycle cost-optimization model, maximizing return on investment.”
FedBid’s platform will be integrated with 22 CityLink’s overall procurement and supply chain management services, and will allow all qualified buyers and sellers in construction to participate in the development.
“It’s exciting to see a major investment in smart city technology in our region and we are thrilled FedBid is partnering with 22 CityLink to help them optimize the way goods and services are purchased to build Gramercy District,” said Ted Leonsis, founder and partner at Revolution Growth, which is an investor in FedBid. “FedBid revolutionized the way the federal government buys goods and services and this partnership will help set the standard for the development of future smart cities.”
FedBid joins Microsoft, Avaya, George Washington University, Center for Innovative Technology and others as 22 CityLink continues to develop its smart city technology platform and create a vision. Once completed, this platform will be known as The Future of Living.
FedBid tapped to deliver Smart City innovation : Real Estate Weekly