A STRETCH of the Pasig riverfront is being developed into an estate that will revive public access to the waterfront.
That waterfront estate — 35 hectares in size — will be built together by Ayala Land, Inc. (ALI) and Eton Properties Philippines, Inc. (EPPI), which formed a 50-50 joint venture for that purpose.
The project’s called Parklinks.
At the project’s launch last week, ALI Senior Vice-President and Strategic Landbank Management Group Head Anna Ma. Margarita B. Dy said that 50% of Parklinks’ total area will be dedicated to open spaces.
“We envision this to be the greenest waterfront estate East of Metro Manila. In this 35-hectare estate, we will provide what the city needs most — well-designed and well-maintained public open spaces — the much needed ‘breathing’ spaces that is now so vital in any urban redevelopment,” she said.
Ma. Carmela K. Ignacio, ALI assistant vice-president for Strategic Landbank Management Group, said that both ALI and EPPI are investing a total of P53 billion for the first phase of the project that will cover 16 hectares of the entire estate. Of the total funding, 75% will be spent on building residential towers, 17% for leasing businesses, and 8% for estate development.
Parklinks’ master plan includes a three-hectare central park, esplanade, river park terraces, running and bike trails, and riparian gardens, designed to encourage social interaction. With a well-designed and managed walkway system, individuals from malls, offices and living spaces could reach these social spaces with a mere five-minute walk.
According to Ms. Ignacio, accessibility is the strong attribute of Parklinks. She shared that the estate will be accessible through C-5, Amang Rodriguez Ave., and Ortigas Ave. Plans also include additional linkages to its neighboring communities like Circulo Verde and Metropoli.
As part of the development, a 110-meter long and 25-meter wide bridge will be built, traversing the Marikina river to link Pasig City and Quezon City. The bridge will create a new route that will help ease vehicular traffic in the northeast and east of Metro Manila. With dedicated lanes for bikers and pedestrians, crossing the bridge will be a safe and pleasant experience.
The joint venture will also be building a 58,000-square meter (sq.m.) regional mall, situated along the estate’s C-5 frontage. It will house a 3,500-sq.m. sports complex with a basketball court, volleyball court, badminton courts, a fitness gym, and dance studio.
“The mall is envisioned to perfectly balance nature with its retail, dining and entertainment offerings. It would offer a new family-oriented lifestyle experience by early 2021,” Ms. Ignacio said.
The development will also introduce a new standard for waterfront living with ALI’s flagship residential brands Ayala Land Premier and Alveo which are both set to introduce five residential towers over the next 10 years.
Last Jan. 15, a groundbreaking ceremony for Parklink’s construction was held. The joint venture is expected to complete the project’s first phase by 2027.
Funding for the second phase of the development could reach over P60 billion, Ms. Ignacio told reporters on the sidelines of the launch. She added that there will be more residential properties and offices, as well as other retail centers along a stretch of the Pasig riverfront for the next development. — M.L.F. Ferrolino