Listed property developer Vista Land and Lifescapes, Inc. (Vista Land) over the weekend said it is developing a P2.1-billion high-rise residential project in the Vito-Cruz De La Salle University (DLSU) area.
The affordable condominium project to be constructed beside DLSU will be marketed under the brand Camella. The project is also near universities bordering Taft avenue such as St. Scholastica’s College, College of St. Benilde, University of the Philippines- Manila, and St. Paul’s College-Manila.
Maribeth C. Tolentino, president of Vista Residence, Inc., said the new project, Camella Condo Homes–La Salle Taft, is the first of a series of high-rise developments that the group will be building beside or near a university.
"While Vista Land already dominates the house-and-lot market nationwide, we also see the need to fill the demand for affordable vertical housing," Tolentino said, adding that Camella is still the most preferred housing brand for the mid-income segment for 35 years.
Tolentino said the Camella Condo Homes beside La Salle Taft is suitable not just for university students but will also be attractive to single working professionals, overseas workers and young couples because of its affordability and easy payment packages.
The Camella Condo Homes will be a single 39-storey mixed-use building that will be built on a 1,382 square meter lot along Taft Avenue. It will be offering a total of 1,141 units ranging from studio to two bedroom flats.
Studio units are about 18.23 to 20.75 square meters and are priced from P1.6 million to P1.8 million, the one-bedroom units have a floor area of 23.91 to 31.52 sqm. and will sell for P2.2 million to P3.4 million while the two-bedroom flats range from 36 sq.m. to 40 sq.m. with prices ranging from P3.2 million to P4 million.
The condominium will also feature 11 garden units at the fourth floor which are priced at P2 million to P2.5 million.
Camella Condo Homes will have commercial spaces for lease near the lobby at the ground floor, parking at the second and third floors.
Other features of the project include a Sky Garden at the roof deck and the amenities area called The Club at the fourth floor which will feature a swimming pool, social hall, function rooms, study hall, and a fitness gym.
Tolentino said the construction of Camella Condo Homes –La Salle Taft will commence by fourth quarter of 2012. Target completion is by third quarter of 2016.