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Meet Algoma: A Startup Automating Pre-Construction Services for Real Estate Developers
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Date:
13 Jan 2025
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Algoma, an AI development platform, is transforming how developers approach site feasibility. By automating pre-construction services through AI-powered technology, the company has reduced what traditionally requires weeks of consultant coordination into a process of several days, all through a subscription-based model.
The platform streamlines pre-development workflow by generating complete feasibility packages that include zoning analysis, massing studies, pro-forma modeling, and renderings. Through tiered subscription levels, developers can access a set number of feasibility reports monthly. For those proceeding with entitled projects, Algoma’s automation extends through the entire pre-construction phase.
“We are a technology company. All of our outputs are digital. We are not involved in any physical process. We are only focused on pre-construction services,” explains Seyfihan Usarer, who co-founded Algoma with Josef Bromovsky and Kyle MertensMeyer at the Harvard Innovation Labs.
The construction industry has historically lagged behind other sectors in technological adoption and productivity gains. However, Algoma sees this changing with a significant generational shift in real estate development. “We’re seeing developers passing their batons to the next generation,” notes Usarer. “Everyone is becoming more tech-savvy, and I think that’s going to have an impact on the real estate industry.”
The platform has gained particular traction among small and mid-sized multifamily developers in urban markets, who often lack the in-house resources for rapid site evaluation. “Small and medium-sized developers don’t get the same luxury [as large developers], and then they get hit for missing their budget targets,” notes Usarer. Through subscription-based access to automated feasibility studies, these developers can evaluate more opportunities while maintaining institutional-quality standards in their pre-development process.
Understanding the industry’s cautious approach to new technology, Algoma emphasizes customer support alongside their technical innovation. They maintain a high-touch service model, providing hands-on guidance to clients while continuously developing their platform based on user feedback. This customer-centric approach has helped drive adoption among traditionally tech-hesitant development firms.
Their comprehensive approach is currently being demonstrated through their pilot project in Savannah – a four-story multifamily residential development utilizing mass timber construction. The project showcases how their platform streamlines the journey from initial site feasibility through construction documentation. The development also highlights their expertise in mass timber construction, an offsite-manufactured product that enables faster assembly with reduced onsite labor requirements.
The company’s innovative approach to pre-construction automation has attracted attention from major market players. They’ve secured grants from the New York City Economic Development Corporation and Georgia Forestry Foundation, while also completing multiple rounds of venture funding.
Having recently completed their latest round of funding, Algoma is positioned to scale their impact on development workflow efficiency. In an industry where pre-development bottlenecks often constrain housing supply, their automated platform offers a glimpse of how technology can accelerate the development process while maintaining quality and compliance.
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