Monday, March 30, 2015

Ayala Land talks new township in Balintawak

A new mixed-use, masterplanned township, going by the name of "Cloverleaf," is about to rise in Balintawak, Quezon City.

A project by Ayala Land Inc. (ALI), the country’s biggest developer, the Cloverleaf will cost P25 billion over the next 10 years. Its name stems from the Balintawak interchange, a major intersection that takes on a cloverleaf shape when viewed from above.

The development’s first phase will see to a four-level Ayala Mall spanning 40,000 square meters; a QualiMed hospital costing P1.8 billion and equipped with 250 beds; and five condominium towers -- three, to be helmed by Avida, and two by Alveo, ALI's subsidiary brands. The five towers, combined, will have a total of 2,600 units. 

Phase 1 will take five years to complete, according to ALI. Phase 2 is pegged to cost P10 billion and, likewise, will take another five years, with seven buildings for businesses, retail, and residential.

Once an old textile mill, vacant since the ‘80s, the 11-hectare complex is pegged to grow into a "pocket urban development," according to Anna Ma. Margarita Dy, ALI'S Senior Vice President and Head of its Strategic Land Bank Management group.

Dy stressed the location as a "strategic area": a gateway to the north and -- situated along EDSA, at the corner of A. Bonifacio -- in a prime position for the six-lane expressway connecting NLEX and SLEX, the two major highways going into and out of Manila.

"We wanted to be in this area for a very long time due to three reasons," said Dy. "One, because the area has been the gateway to the north where trading businesses are established, adapting a bustling business community. Second, there is a prosperous residential community of Filipino-Chinese in the area and we want to capitalize on that. And also, improved vehicular access is also present due to EDSA, LRT-1 and the ongoing Skyway, seen to be completed mid-2017."

Billed as "Skyway Stage 3," the connector costs P26.5 billion.According to Dy, Cloverleaf’s mall and its hospital will be completed in time for the Skyway.

"Cloverleaf will give people access to refreshing retail, business, lifestyle and residential possibilities — elements that create an ideal urban lifestyle," said Dy.

_____

Source:

- Manila Times

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