Avida sells P1.7B Makati “condo-village” units

An artist’s rendition of Avida’s One Antonio

A UNIT of property giant Ayala Land Inc. is building a rare low-rise, low-density residential project in a quaint location in San Antonio, Makati, creating P1.7 billion worth of new inventory pitching “condominium living in a village setting.”

Avida Land unveiled on Monday “One Antonio,” a six -storey residence offering 198 units priced starting at P8 million. The property is located on Sacred Heart Street, an address seen ideal for people working within the central business district.

The residential units will have a footprint of 52 to 60 square meters each for the two-bedroom format and 62 to 66 square meters (sqms) for the three-bedroom (62-66 sqm.) layout. The two-bedroom units are offered for P8 million while the three-bedroom units are priced at P9 to P10 million.

“One Antonio will appeal to end-users seeking a home closer to the business district, who see Makati as a central location, or who may be empty nesters considering downsizing,” said Herbert Herrero, Avida assistant vice president for project and strategic management group. “It is also poised to attract investors who are interested in renting out units to Makati-based professionals, or who see the high re-sale value of a Makati property.”

Given its strategic location and limited offering, Avida expects residential units to be sold out within the year. The units are expected to be turned over to homebuyers by September 2019.

Herrero said Avida wanted to put together an “irresistible option” for home-seekers, who can walk from One Antonio to the central business district.

The property is situated in a quiet residential area with nearby landmarks such as the Makati Central Police headquarters, Makati Central Post Office, and Makati Medical Center. Offices, schools, churches, foreign embassies and commercial districts such as the Ayala Triangle Gardens and Ayala Center are within a two-kilometer radius.

One Antonio bears a number of firsts for Avida despite being the fourth project of the developer in the area. It is the first residence with a low, single tower in a T-shaped design with single loaded corridors and a landscaped atrium at the center. All units come with a five-sqm balcony and 100-percent parking provision in ground level and basement level parking spaces. Each parking unit is priced at around P1 million.

About 60 percent of the property is given to shared open space. The open grounds feature a lawn, pavilion, adult pool and kiddie pool, landscaped gardens, outdoor seating area, fitness area, playground and a jogging path around the building.

One Antonio’s unique design from other Avida developments was conceptualized to complement the peaceful neighborhood community of Barangay San Antonio. Thus, the low-rise, single-tower residence was styled to offer its future residents condo-village living in the heart of the city.

Each unit envisions an efficient living space. For instance, the two-bedroom units offer a “multi-passenger” toilet and bath, allowing two people to use them separately at the same time.

Avida Land is investing around P1 billion to build this project. Price per square meter is estimated at P150,000.

One Antonio is seen suitable for households with combined monthly income of P150,000 to P250,000. Avida requires 20 percent of unit price as downpayment while the balance can be covered by bank financing at an estimated monthly amortization of P45,000.

Avida investing P1B to develop One Antonio