Ayala Land to spend P5B for dev’t of San Lazaro racetrack

Ayala Land announced it will be investing P5 billion for the development of former San Lazaro Hippodrome into a residential, commercial and business district in Manila.

“We want to broaden the living options for discerning urbanites in Manila by giving them all three elements of retail, commercial and residential that resonate the good life in an integrated in-city community.” Community Innovations’ head of project development Iris Josef said.

Community Innovations is Ayala Land’s standard bearer for innovation in residential living.

In a press conference, Josef said the development of the eleven hectare property is a joint venture between the Ayala Group and the Manila Jockey Club.

“We have an opportunity to develop a neighborhood that seamlessly blends the retail and business facets of this integrated community,” Josef said.

The residential, commercial and business development dubbed as Celadon Manila, will be located in the former San Lazaro Hippodrome in Manila. Josef said P2.5 billion will be allotted for the commercial development while the remaining P2.5 billion will be utilized for residential.

The area is only eight kilometers from the Makati Business District, nine kilometers from Ortigas, two kilometers from Binondo and four kilometers from the Quezon City business area.

According to Josef, the multi-billion development will house the largest BPO (business process outsourcing) site in the city. Given its accessibility to transportation, Josef said it is an ideal location for companies such as Convergys and PeopleSupport.

Easy access to major thoroughfares and public transport terminals support the rapidly growing call center industry in the country. Likewise, its strategic location near the University Belt along Felix Huertas street is ideal for increasing the participating BPOs’ visibility and exposure to the students of surrounding universities.

Josef estimated that roughly 13,000 new jobs will be created once the BPO facility is fully operational.

Ground breaking for the first BPO center is scheduled first part of next year.

Given the intensive and demanding work environment BPOs are exposed to, Celadon Manila’s retail aspect, Shops at Celadon will provide extended hours of leisure amenities such as health spas, salons, and dining destination.

The retail component of the project is expected to be completed at the tail end of next year. It will stand at the ground floor of the 1.1 hectare commercial district.

The recreational lifestyle and distinct shopping experience at Shops at Celadon will be patterned after Ayala Malls’ successful commercial ventures like Greenbelt and Shops at Serendra.

Meanwhile, the residential block will be the largest residential development in Manila.  Community Innovations will build Celadon Residences which will feature townhomes and Celadon Park which will be composed of condominiums.

A total of 202 townhomes will be built with prices ranging from P9.5 million to P12.5 million. The Celedon Park on the other hand, will be priced between P3.3 million to P8.6 million.