Property developer Ortigas & Co. has unveiled a P50-billion master plan to redevelop “Ortigas East,” the new brand of the 16-hectare estate previously called Frontera Verde along C5 and Julia Vargas, popularly known as the home of the Tiendesitas retail hub.
Ortigas president and chief executive Jaime Ysmael said the redevelopment would be executed in three phases and would make Ortigas East the new residential, retail and business hub in the east of the metropolis.
The estate is also being groomed to be a “natural extension” of the Ortigas central business district.
In a text message, Ysmael said the P50-billion Ortigas East redevelopment would be implemented in the next 15 to 20 years.
“Tiendesitas will remain in Ortigas East but we will eventually redevelop it as we execute the master plan for the redevelopment of the state, which will be done in phases,” Ysmael said.
Tiendesitas, the anchor locator in this estate, has developed a niche for people looking for native food, handicrafts, fashion, antiques and pets.
“Ortigas East moves us another step closer to our goal of fully realizing the potential of our 52-hectare landbank. We started with Greenhills last year, and now, it’s Ortigas East. We are building this as an ecoefficient, connected community filled with the comforts that will allow people to live and move better inside a well-planned estate,” Ysmael said in a statement on Wednesday.
The first phase of the redevelopment will bring new residential, retail and office developments to Ortigas East.
Other locators in Ortigas East are SM Hypermarket, Fun Ranch, Ark Avilon, Transcom Center, Silver City and Shell Gas Station.
Ysmael said Ortigas East was poised to redefine mixed-use developments through the advanced planning and design done for the property. To achieve its vision of an ecoefficient, connected community, Ortigas & Co. partnered with world-renowned firms such as CallisonRTKL, which worked on the master planning; WSP Parsons Brinckerhoff for traffic analysis; AIT Wind Solutions for wind analysis on the buildings; and Langan for seismic analysis.
Ortigas & Co. also included plans for an improved road network inside Ortigas East to provide more space for people to walk and bike in. About 40 percent of space will be allotted for open parks and areas to provide balance amid the tall structures. A transport terminal will be put up to help people get in and around the property, as well as the surrounding areas.
A new office tower will be launched in the estate next month. This will be the company’s first office tower where units will be for sale. Called The Glaston Tower, the 34-story structure is being pitched as a prime business address for local and multinational businesses.
Last year, Ortigas & Co. also announced the redevelopment of its Greenhills estate in San Juan. The ongoing redevelopment will also be done in three phases, with the first phase marked by the introduction of residential tower Connor and the building of new mall and a business process outsourcing office facility.
Now on its 86th year, Ortigas is also the developer behind Capitol Commons, Circulo Verde, Greenmeadows, Valle Verde and Greenhills Subdivisions. —DORIS DUMLAO-ABADILLA