22 Capital Partners, a venture builder and private equity company, recently announced that it has selected FedBid, an online reverse auction marketplace, as a technology partner for its 22 CityLink platform, which has been designed to help 22 Capital Partners to 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 in the Washington D.C. Gramercy District. It will be the first ground-up smart city in the D.C. area, according to the release. It is located in Loudoun County on 16.8 acres of prime real estate at the terminus of the Silver Line Ashburn Station metro. The goal outlined for this smart city project is to create an innovation campus with the foundation technology and education partners.
A key component of the 22 CityLink smart city approach, the company said, is reducing total lifecycle costs and creating long-term value for citizens.
“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, 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.
“We look forward to working with 22 CityLink to deliver tangible outcomes, including efficiency, competition, cost savings and innovation, adding value to the market starting with a ground-up project at Gramercy District,” said Joe Jordan, CEO at FedBid. “Our unique ability to customize and scale our technology and marketplace solution to any sized project fits well with the world class team assembled at 22 CityLink.”
FedBid joins Microsoft, Avaya, George Washington University, the Center for Innovative Technology and others as a 22 CityLink partner in its developing smart city technology platform. Once completed, this platform will be known as “The Future of Living.”
Edited by
Alicia Young
