New role created to future-proof growing multifamily real estate firm
ATLANTA (September 20, 2022) – RangeWater Real Estate has hired Matt Tracy as managing director of innovation and technology, a new position overseeing the real estate firm’s enterprise strategy as the company expands across the Sun Belt and Mountain West nearing 100,000 units under management.
In this role, Tracy will accelerate RangeWater’s overarching innovation strategy to further the company’s position as a multifamily leader in PropTech. He will also aid in advancements to RangeWater’s BI (business intelligence) platform and other business technologies to fuel its growing portfolio.
Tracy’s technology enhancements will build on RangeWater’s experience-first approach to multifamily and build-to-rent communities. “Residents do not exclusively engage with concrete, steel and glass,” notes Tracy. “Digital place-making is how we interact with people. It’s the future – a future where building science, experience and technology combine to deliver a consistent experience to its end user.”
Technology presents a unique opportunity for developers to elevate the customer experience, improve operational efficiency and minimize risk while generating significant value for stakeholders.
Tracy adds that in his experience, some construction and multifamily firms have been slow to implement new building techniques and technology. Organizations that lean into future will be the leaders of the next generations of resident and operational experience. The next generation of real estate is focused on resident experience, creating value for all stakeholders alike.
Tracy’s background includes more than two decades of experience in technology, real estate, construction and architecture, beginning with his first residential project when he was just 19 years old. Tracy brings a unique and fresh perspective to the multifamily space. He intends to use his new role at RangeWater to build on the already innovative culture to reimagine the future of buildings and experience, and how new technologies will help fuel those initiatives.
“RangeWater is excited to welcome Matt to our growing team as we continue to expand across the Sun Belt and Mountain West,” the firm’s Chairman and CEO Steven Shores says. “His knowledge and expertise ensure our residents and teams have access to the best PropTech has to offer, future-proofing our communities and elevating our service standards.”
Tracy likens the digital transformation in multifamily real estate to that of the automobile industry. “Consumers buy a new car to take advantage of the latest technology,” says Tracy. “Features like Bluetooth, keyless start and adaptive cruise control are not luxuries, but rather basic requirements in even the least expensive automobiles. I believe we are seeing the same transformation in the real estate industry. Residential experiences are ever-evolving and technology plays a big part of this.”
He also sees a time when residents will be able to access all PropTech through one interface, what he calls having a “single pane of glass” that integrates all technology needed for a “frictionless experience.”
Tracy adds, “Innovation is bigger than any one person. Success in this area is only possible with a culture of innovation, where everyone plays a part.”
Tracy and his wife Rebecca reside in Northern Colorado.