Ayala Land Inc. on Tuesday said it is investing P18 billion to develop a 290-hectare “new downtown” in Tarlac, the property developer’s 29th estate so far.
Dubbed as the Crescendo, the estate is located some 3 kilometers from the Subic-Clark-Tarlac Expressway (SCTEX) and MacArthur Highway, and accessible through the Tarlac-Pangasinan-La Union Expressway (TPLEX).
Some P5.5 billion of the total investment has been allocated to the first phase of development, which includes a 1.5-hectare civic plaza, church, school, retail strip, residences, transport terminal, and an industrial park.
This will be part of the estate’s 30-hectare urban core with a modern Filipino design with pocket parks and pedestrian promenades.
“Our vision is to encourage more homegrown entrepreneurs and new businesses at Crescendo. The property is strategically located and has a young and growing population that makes it one of the promising areas in the region.” said Crescendo estate head John Estacio.
Fifty-nine percent of the estate has been allocated to residential projects to be developed by ALI’s Avida Land, with 11% earmarked for a 32-hectare Crescendo Industrial Park (CIP).
CIP will have lot sizes from 1,200 square meters to 10,000 square meters to be sold at P6,000 to P9,000 per square meter.
“… This new development … is expected to usher in a new era of growth and progress, and we are glad that Ayala Land is one of our most valued partners in the realization of our development goals,” said Tarlac City Mayor Maria Cristina Angeles during the estate’s groundbreaking ceremony.
Crescendo will also be home to the Don Bosco Technical Institute, which is to open a senior high school in 2022, followed by the opening of the Technical Vocational Education and Training Center.
“The school aligns closely with the vision of Crescendo as a place with opportunities for employment, education, and growth. Graduates will have a higher probability of employment in the industrial park, the commercial district, or to even venture into starting their own business,” Estacio said.
ALI said Crescendo is expected to have a transport terminal and the first residential subdivision by 2022. —Jon Viktor Cabuenas/VDS, GMA News
Source: GMA News Online