ALI will start development of this mixed-use project with a new gated village under Alveo Land called “The Residences at Evo City.” This segment will bring P7.4-billion worth of real estate inventory in the form of subdivision lots that will be turned over to buyers by 2020.
In a briefing last week, Alveo Land president Jennylle Tupaz, said The Residences would be the only subdivision development in this future CBD. The Residences will be to Evo City as Urdaneta Village is to Makati, a prime subdivision within a thriving CBD, she said.
Alveo—which is expected to be ALI’s biggest residential brand this year—will offer only 760 lots in this subdivision, which will occupy 41.4 hectares of the estate.
For the first phase, Alveo will bring to the market 395 lots with an average size of 236 square meters (sqm). Average selling price is P30,000/sqm while average contract price is P9.7 million. Minimum lot cut will be 294 sqms while maximum will be 325 sqms.
“The Residences at Evo City will offer an ideal living experience in the South. With the seamless synergy of all the Ayala brands involved, Evo City will become a prime CBD that will drive growth and progress in Cavite,” Tupaz said.
Amenities include a main park and smaller cluster parks situated around the subdivision. The clubhouse will have a function room and board room, a lap pool, lounge pool and a children’s pool.
After The Residences, subsequent residential offerings in Evo City will be high-rise developments.
Evo City—which is bordered by the Centennial Road, Kalayaan Road and the soon-to-be developed Cavite-Laguna Expressway (Calax)—will be less than an hour away from the metropolis by road travel.
Based on its pricing, The Residences is suitable for households with combined monthly income of about P300,000. Monthly amortization for a lot is estimated at around P160,000.
Evo City will also feature a lifestyle mall by the Ayala Malls Group, a hotel by Ayala Hotels and Resorts Corp., office developments by Ayala Land Offices, and residential offerings by Alveo Land. Civic space for parks and plazas, a school, church and hospital will complete the estate.
Later in the year, Tupaz said Alveo Land would also offer commercial lots for sale in Evo City.
About 40 percent of Evo City will be devoted to open space. Based on the master plan, the entire CBD is anchored by a five-hectare park for various outdoor activities. It will also have mini-parks and mini-plazas and a pedestrian-friendly road network with dedicated bike lanes.
The first phase of development in Evo City covers 121 ha.
Tupaz said Evo City was derived from the word “evolution” as this project sought to bring the district and its outlying areas forward toward growth and progress.
