New Katipunan landmark on the rise
Property developer and contractor Scheirman & Cruz Property Holdings Inc. (SCPHI) has branched out into condominium development after its successful forays in hotels and community malls, putting up a high-rise tower that will soon become a new landmark in Katipunan Ave. in Quezon City.
The project, One Katipunan Residences, is its maiden effort at high-rise property development, in a marketing partnership with Ecoglobal Development Corp. (EDC). SCPHI has been focusing on leasing and building community malls and hotels nationwide under the brand names Xentro Malls and Dreamwave Hotels, respectively.
EDC chief financial officer Aida Reyes said One Katipunan Residences will be built on a 636-square meter lot on the strategic part of Katipunan Ave., being at the corner of Aurora Boulevard and a few steps away from Ateneo de Manila University, Miriam College and the University of the Philippines.
Also a short distance away is the LRT-2 Katipunan Station, which runs from Santolan in Pasig City to C.M. Recto Ave., right into the premier “university belt” area of Manila. At the back of One Katipunan Residences is St. Bridget’s School, an exclusive school for girls.
Reyes said she and her husband bought the property from the Dalupan family for P30 million eight years ago, and recently turned down an offer to acquire the lot for P100 million “because I wanted to see a beautiful condominium tower to rise on the property and I wanted to have a role in the building of a new landmark in Katipunan Ave.”
The aggressive growth of the Katipunan-Loyola Heights area has seen a dramatic rise in the property’s value especially after the opening of the Ayalas’ UP Town Center, also located along Katipunan Ave.
“The Katipunan Avenue and the surrounding Loyola Heights areas are really a growth sector specially now with the UP Town Center. It is a huge commercial zone of approximately seven hectares that features retail and BPO establishments. It will fuel the commercialization of the Katipunan area in addition to its being a premium education hub,” Reyes said.
“This means that when you buy a condo-home here, with the goal of saving your children from terrible traffic to their school and back, you also make your purchase into an investment opportunity because property values will continue to rise with the many ongoing developments in the area,” she added.
“When we bought the property, we originally planned to build a mediumrise, five-floor building. When we were securing our permits with city hall, we were asked why we were just building a four or five-floor building when our property was in a major commercial zone which means we can build a high-rise tower to maximize the value of our property,” she said.
Reyes, a retired professor who taught finance and business policy subjects at the Ateneo de Manila University and the Asian Institute of Management, said she would buy properties offered for sale in Cubao and in Varsity Hills, while her husband would design and build 10 to 12-unit townhouse compounds which they easily sold to families who had children going to the Ateneo, Miriam, UP, St. Bridget’s, and even in other schools such as Kostka School and the Multiple Intelligence International School, both also located along Katipunan.
Fortunately for the Reyes couple, one of their three children, Ginger, followed her father’s footsteps and studied architecture in UP Diliman, and then earned a master’s degree at the Woodbury University in San Diego, California.
The younger Reyes said she came up with the Italian-inspired design theme for One Katipunan Residences because she had always been drawn to classical architecture.
All units have balconies, allowing residents to enjoy a 360-degree view of the metro’s skyline, the picturesque Ateneo de Manila and Miriam College campuses, the suburban Loyola Heights community, and the breathtaking views of neighboring Marikina City and the mountains of Antipolo in Rizal.
The roof deck will boast of secure recreation and learning facilities and other amenities for residents such as a swimming pool, a jacuzzi, gym, a library, pocket gardens and a function hall.
The tower also features a 24-hour security system, a fiber-optic internet connection and arcade, and a grand entrance lobby with three passenger elevators.
One bedroom (from 25.46 sqm to 27.18 sqm) and three configurations of two-bedroom units (42.46 sqm, 39.50 sqm and 42.34 sqm) are the available unit sizes.
Each unit showcases features such as painted wall finish, entrance panel door, keyless entry, granite/marble kitchen countertop, drying cage for laundry, provision for washing machines, overhead and base cabinets, floor-to-ceiling T&B wall tiles, fiber optic internet connections, and provision for cable and TV lines.