Soon to rise in Iloilo City is a master-planned, mixed-use community that will integrate residential, retail and business clusters as well as healthcare and educational institutions.
Property giant Ayala Land Inc. announced on Wednesday the construction of four 14-story towers of the Avida Towers and nine seven-story buildings of the Avida Storeys condominium at the 5.5-hectare Atria, the residential component of the Atria Park District in Mandurriao, Iloilo City. Development cost of the residential community is estimated at P6 billion.
The Atria will be part of Ayala Land’s P15-billion venture to develop the 21-hectare Atria Park District, which, aside from Avida Land’s residential developments, will include parks and landscaped areas, commercial and office establishments, an Ayala-owned and -managed hotel and the University Physicians Medical Center-Iloilo.
The Atria will be a neighborhood center with an integrated retail strip, a promenade and a spacious landscaped plaza to further heighten its community experience. Aptly derived from the word atrium, Atria will serve as a respite from the bustling city life with approximately 53 percent of its area dedicated to amenities, open spaces and landscaped greeneries.
In a 10-year period, Ayala Land will be constructing a total of 2,500 units, through its housing arm Avida Land Corp. which targets the middle class. Avida Land is taking charge of the first phase construction of the mid-rise Towers Atria and low-rise Storeys Atria, which will have 509 units. The groundbreaking ceremony is scheduled on the third quarter of 2013, with turnover of units expected by the third quarter of 2016.
Among the amenities are adult and kiddie pools with a lounge, sitting nooks, outdoor gym, jogging path, a play area, landscaped areas, clubhouse and retail strip on the ground floor.
Atria will be accessible to the business process outsourcing offices of the Iloilo-Ayala Land TechnoHub, schools such the Ateneo de Iloilo and the University of the Philippines-Visayas, churches, hospitals, entertainment strips and hotels.
It will be Avida Land’s second project in Iloilo. The first was in 2010 when it completed the 24-hectare house and lot development called Avida Village Iloilo.
The development of the Atria and the Atria Park District is Ayala Land’s bid to expand further in Iloilo City. Avida Land president and CEO Chris Maglanoc said the Atria signifies their aspirations for a long-term presence in the area.
Maglanoc said: “We are here to expand Ayala Land’s footprint, which means we are bringing the Ayala lifestyle experience closer to the Ilonggos. [The] Atria is an exciting development that complements the holistic lifestyle envisioned for the entire Atria Park District.”
Chief architect and Innovations and Design group head Joel Luna, for his part, said the “Atria [will be] the symbolic heart of our development for Iloilo City.”
Expressing his agreement with Maglanoc, Ayala Land president and CEO Tony Aquino said: Ayala Land is proud to bring “a complete live-work-play experience for the Ilonggos in a sustainable community. It is continuing its tradition of building large-scale, integrated mixed-use communities in key growth areas across the Philippines.”
Aquino is hopeful that this major investment will help in the further development of Iloilo City.