Callisto new residential project in Circuit Makati
There’s no doubt that innovation is the key to success in any business undertaking. Innovation is what Ayala Land and its subsidiary Alveo Land are both prime movers of. This time, Alveo is addressing the market demand by changing the unit mix of Callisto, its new residential project in the country’s premier entertainment district of Circuit Makati.
Callisto is a two-tower condominium to be built right across the sprawling retail strip of Circuit Lane. It will have its first tower rise 38 stories high with its own retail component on the lower ground floor and upper ground floor.
Unit mix
Callisto will differ in features from the two-tower residential condominium Solstice where it will rise beside. Alveo Land project, sales and marketing group head Rufino S. Gutierrez identified the unit mix as the main difference between the two developments.
“Solstice focuses more on big units such as one-bedroom and two-bedroom units, which make up approximately 78 percent of the total inventory, while Callisto Tower 1 is composed mostly of studio and one-bedroom units at a 76-percent unit mix,” Gutierrez said.
This brings to three Alveo’s main projects in Circuit Makati, including workspaces-for-sale The Stiles Enterprise Plaza and two-tower residential condominium Solstice. With rising interest in Circuit Makati, the developer is set to launch approximately one tower every year for the next 20 years right within the area.
Major node
This exciting new 21-hectare district is a major node of Ayala Land’s massive redevelopment of the country’s premier financial district. With its current attractions in full operation, including a massive events area, thriving retail strip and a black box theater, Circuit Makati has been living up to its reputation as a growing entertainment and lifestyle destination since its launch four years ago.
This rapid development and progress in the area led to Alveo’s launch of Callisto, whose name was derived from the fifth moon of planet Jupiter.
The first tower will stand 38 stories high with a roof deck. It will have 8 podium floors with 338 parking slots. The ninth-floor Amenity Zone is shared with the second tower.
There will be a total of 430 residential units with a mix of studio, one-bedroom, two-bedroom, three-bedroom and special three-bedroom units. Area sizes range from 28 to 32 sqm for studio, 56-65 sqm for one-bedroom, 85-106 sqm for two-bedroom, 122-214 sqm for three-bedroom and 116-122 for special three-bedroom units.
Floor-to-ceiling heights for the living, dining and bedroom measure 2.7 meters.
Investor Suites
Callisto offers Investor Suites, each composed of two inner units (a two-bedroom unit and a studio) separated by a foyer. These units offer investors more flexibility, as they may lease out one unit and personally use the other, or lease out both inner units, depending on their needs. It must be noted that an Investor Suite is covered only by one Condominium Certificate of Title. Alveo first introduced this special type of units in the Sandstone at Portico.
Different market profiles
Gutierrez explained: “Callisto and Solstice appeal to different market profiles. With Callisto focused on smaller units, it may appeal more toward younger professionals who aspire to have a first-mover advantage within Makati’s latest lifestyle destination, as well as early nesters looking for their first homes in the city.”
The ninth floor Amenity Zone offers a 25-meter lap pool, three lounge pools, a kiddie pool, a game room, indoor gym, library, function room, board room, play area, lounge and a lawn area.
Callisto also offers new amenities including a game room and a library, which Solstice does not offer.
Special-sized residential units will also be located on the ninth floor.
Callisto residences are priced P135,000 to P140,000 per sqm. Typical units average at the following prices: studio units at P4.3 million, one-bedroom units at P8.4 million, two-bedroom units at P12.3 million, and Investor Suites at P17.1 million.
The total inventory of Callisto is valued at P3.9 billion (with value-added tax).
Continues to develop
As a growing district for lifestyle and entertainment experiences, Circuit Makati continues to develop at a steady pace. Circuit Makati is a 21-hectare mixed-use district, part of the six nodes representing Ayala Land’s P125 billion redevelopment of Makati.
Since development began in 2012, Circuit Makati has become the city’s premier lifestyle playground, hosting several social, entertainment, sports and cultural events all-year round. Interim attractions such as the Mountain Dew Skate Park, City Kart Racing, Gatorade Chelsea Blue Pitch, and Globe Circuit Events Grounds have welcomed thousands of visitors to this exciting new district.
The Power Mac Center Spotlight, a black box theater, has hosted several productions since opening in 2015, including plays, special events, exhibits and product launches.
For retail, the district features Circuit Lane, a 253-meter sprawling strip of retail shops, restaurants, bars and cafés; and the soon-to-rise Ayala Malls Circuit, a five-level shopping mall connected to Circuit Lane. Circuit Lane opened in 2015 and now features a diverse mix of curated retail and lifestyle shops. These retail spaces are strategically located beside the district’s business center.
Exciting future developments include the Circuit Performing Arts Theater, a 1,500-seater theater auditorium featuring state-of-the-art sound, lights, scenery technology and outstanding acoustics. This is scheduled for completion by 2019, along with the 255-room Seda hotel.
Office developments include Circuit Corporate Center with 26 floors of leased spaces, and The Stiles Enterprise Plaza West Tower, the first of Alveo’s two-tower workspaces-for-sale project.
In addition, Circuit Makati developments are constantly underway, including significant access improvements. Bonifacio Global City, in fact, will be extending its BGC Bus routes to service the district within the year, providing more opportunities for people to enjoy what Circuit has to offer.
The first tower of Solstice is almost sold out with 440 out of 461 units (95 percent), while Tower 2 has sold 260 out of 389 units (67 percent).
Price appreciation
With Alveo’s continuous launches for both residential and office, their consequential turnovers, as well as the completion of the other components (Circuit Corporate Center, Circuit Mall, Seda, and the Circuit Performing Arts Theater), Circuit Makati is expected to follow the same price trajectory as that of Nuvali and BGC, where prices more than doubled within a span of 10 years.
With the starting price of Solstice Tower 1 at P115,000 per sqm and Solstice Tower 2 at P117,000 per sqm 2013, and The Stiles Enterprise Plaza West Tower at P147,000 per sqm (P3,171 per sqm) in 2015, Alveo Land’s Circuit Makati projects have already appreciated by 21.7 percent for residential, and 2 percent for office in just a span of 3 years.
Alveo is slated to launch approximately one tower every year for the next 20 years.
Turnover for Callisto will begin in July 2022.
