Ayala Land Invests P15 Billion on Iloilo's Atria Park District
Posted on April 29, 2013
Iloilo City will soon see the rise of its own Atria Park District, Ayala Land’s masterplanned, mixed-use community that integrates residential, retail and business clusters as well as health care and educational institutions.
A distinct development concept that introduces a live-work-play environment to Iloilo, Atria Park District has an initial total planning area of around 21 hectares and is estimated to cost over P15 Billion. It will include the residential development of Avida Land Corp. (an Ayala Land subsidiary), parks and landscaped areas, commercial and office establishments, an Ayala hotel, and institutional areas including UPMC Iloilo, a modern health care facility. From its construction to operation, Atria Park District is projected to generate close to 10,000 jobs.
Situated at the emerging city center in the vibrant area of Mandurriao, Atria Park District is immediately accessible to the BPO offices of the Iloilo-AyalaLand TechnoHub, schools (Ateneo de Iloilo and UP Visayas), churches (Molo Church and Victory Christian Fellowship), hospitals (The Medical City, Iloilo Doctors Hospital, and Medicus), the entertainment strip of Smallville, and hotels (Smallville 21 Hotel, Westown Hotel, and Iloilo Business Hotel).
"Ayala Land is continuing its tradition of building large-scale, integrated mixed-use communities in key growth areas across the Philippines," said Ayala Land, Inc. President and CEO Antonino T. Aquino. "Atria Park District represents our largest investment here in Iloilo with more developments expected over its 10-year construction plan. We take pride in bringing a complete live-work-play experience for the Ilonggos in a sustainable community."
In a press conference held Wednesday at Smallville 21 Hotel in Iloilo City, Avida Land announced its plans to expand the Ayala Land footprint in Iloilo by constructing its residential condominiums, the 5.5 hectare Atria development that will be the residential component of the Atria Park District. Atria is Avida's second project in Iloilo, preceded by Avida Village Iloilo, a house and lot development launched in Pavia in 2010.
"We are proud to announce that Atria signifies Avida's long-term presence in Iloilo City. We are here to expand Ayala Land's footprint in Iloilo, which means we are bringing the Ayala lifestyle experience closer to the Ilonggos. Atria is an exciting development that complements the holistic lifestyle envisioned for the entire Atria Park District," shared Avida Land's President and CEO Chris B. Maglanoc.
The first phase of Avida Storeys Atria and Avida Towers Atria has a total of 509 units. Both buildings are scheduled to break ground on the third quarter of 2013, with turnover expected by the third quarter of 2016.
Atria promotes the live-work-play experience with its central amenities, a neighborhood center with an integrated retail strip, a promenade and a spacious landscaped plaza to further heighten the Atria community experience. Aptly derived from the word Atrium, Atria will serve as a respite from the bustling city life with approximately 53% of its area dedicated to amenities, open spaces and landscaped greeneries.