Ayala-Tan joint venture to build ‘greenest’ CBD
The Ayala and Lucio Tan groups have teamed up to jointly invest some P53 billion in transforming a 35-hectare waterfront former industrial estate, the largest along the C5 corridor spanning Pasig and Quezon City, into what is envisioned to be Metro Manila’s “greenest” central business district.
The new estate called Parklinks, which will host 30 buildings in the coming years, is a 50-50 percent joint venture between Ayala Land Inc. (ALI) and the Tan group’s property arm, Eton Properties Philippines Inc. The joint venture is called ALI Eton Property Development Corp.
“With 50 percent of the 35 hectares devoted to open space, Parklinks will provide what is sorely missing along the busy C5 corridor—an abundance of open space,” ALI senior vice president and strategic landbank management group head Meean Dy said.
“Parklinks, an exemplary urban design expression, is a living testament to Eton LT group and ALI’s shared vision and commitment in providing sustainable excellent communities in urban centers to its valuable customers,” Eton chief operating officer Jess Lucas said.
This is deemed as the “greenest” urban master plan to date, encompassing a three-hectare central park, an esplanade, river park terraces, running and bike trails and riparian gardens designed to highlight the natural topography of the land. The developers also seek to encourage the community to “engage and appreciate the river system surrounding the development.” A “well-designed” and “managed” walkway system will also be installed.
A 110-meter long and 25-meter wide steel bridge—pitched to be an “iconic” structure deemed suitable for “selfies” once completed by 2019—is designed to link Quezon City and Pasig over the Marikina river. This is seen to open a new route that will help ease vehicular traffic in northeast and east of Metro Manila. The bridge will have dedicated lanes for bikers and pedestrians, allowing a safe and convenient commute within and around the development.
The P53-billion capital outlays for the next 10 years will cover the initial 16 hectares of the entire estate (first phase), creating 677,000 square meters of gross floor area in the form of new residential, office space, shopping mall and other estate development.
About 75 percent of the project will be in the form of high-rise residential projects under Ayala Land Premier and Alveo Land which will develop five towers each. Alveo will offer an initial 3,700 units while ALP, the first upscale residential brand to build on this side of the metropolis, will offer 1,688 residential units.
About 17 percent of the initial development will be for the leasing business, while the remaining 8 percent will be for other estate development.
The estate will be anchored by a 58,000-sqm regional mall which will rise along the C5 frontage and open to the public by 2021. On top of the mall will be a 3,500-sqm sports complex that will house a basketball court, volleyball court, badminton courts, fitness gym and dance studio to support the needs of people with active lifestyle.
The mall is seen to “perfectly balance nature” with its retail, dining and entertainment offerings.
Parklinks will be accessible via C5, Amang Rodriguez Avenue and Ortigas Avenue. Plans also include additional linkages to the estate’s neighboring communities like Circulo Verde and Metropoli.
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