The Lerato [31Fx3|mix]

[rubix_cube321]

great curb appeal! but the rest of the tower could have been better.

[the glimpser]

P3-B residential towers to revitalize Makati CBD North

By Tessa Salazar
Philippine Daily Inquirer
First Posted 23:38:00 05/07/2010

CENTRAL BUSINESS DIStricts are like the giant stars in an urban universe. They shine the brightest, but they also tend to burn out faster. A generation or two ago, the brightest CBDs were clustered in Manila (Escolta comes to mind). Somehow, the socioeconomic attraction of other business districts in other cities of Metro Manila soon outshone the traditional economic hotspots of the country’s capital city.

Now, we see CBDs in Makati, Taguig, Ortigas and Quezon City. And arguably, the most established and recognized among these is the Makati Central Business District. But will the same fate befall today’s brightest burning CBD?

Ayala Land Inc. executives quickly answered that the Makati CBD will not burn itself out; not if they can do something about it. In fact, a rebirth of this superstar of CBDs, they stress, is taking place.

Sustainable community

Rex Mendoza, Ayala Land’s senior vice president and chief marketing sales officer, stressed during last week’s press conference that Ayala’s promise to its stakeholders is to preserve the value of the Makati CBD. He said that Makati is poised to become a more sustainable community in the near future.

Mendoza added that sustainability doesn’t just always mean less density. “Dense” could also mean integration since there would be less carbon footprint, with residents walking to work or to malls because of proximity to all the areas of necessity.

Not to be outposhed by ALI’s other trailblazing projects such as Nuvali in Laguna, the Makati CBD has been quietly revitalizing its own territory. Keen observers and CBD denizens would have to witness the changes at the Ayala Triangle Gardens, as well as Ayala Center’s redevelopment of Glorietta 1 and 2 malls, which are being transformed into a mixed-use integrated community, complete with hotel offices, not to mention the Park Terraces project.

Now comes a three-tower residential project to be called The Lerato at the Makati CBD North, Ayala Land’s newest sector of interest in Makati. The project cost is estimated at P3 billion, with the sales value of the first tower alone estimated at P1.65 billion.

The Lerato, an Alveo Land project, will stand right across The Columns Ayala Avenue exactly on Nicanor Garcia Street.

Dante M. Abando, Alveo Land president, described MCBD North as poised to become an “impactful, integrated mixed-use district.” The Lerato will offer quaint dining and cultural destinations, complementing the diversity of lifestyles that its residents lead.

Abando said The Lerato is essentially the tangible representation of Alveo Land’s commitment to enrich the work/life balance of Makati’s urban achievers.

For urban achievers

Jennylle S. Tupaz, Alveo Land’s project development group head, said The Lerato is designed for young urban achievers with combined monthly household incomes of P120,000 to P180,000, and that every building would feature outdoor and indoor amenities.

The first building, described as “very modern with a quaint retail piazza,” will house wellness areas, gyms and a meditation room. The second building will be a venue for appreciating the arts, with its music rooms and an audiovisual AV/theater room for the performing arts. There will also be a picnic area, a jogging trail, a roof deck/garden for people to converge.

The Lerato includes a 3,000-sq-m retail community with a grocery at the basement, while the second level will offer basic services, laundry shops and dental clinics.

The ground floor level will highlight a one-of-a-kind dining area. The open space is projected at 1,250 sq m, which could be used as a weekend market or a venue for outdoor performances.

Record-breaking sales

The Tower 1 will have 540 units (comprised of 420 studio units and 120 bedroom corner units). A 32-sq-m studio unit is estimated to cost P3 million. Other unit sizes range from 44 to 57 sq m. A one-bedroom unit would cost from P4.7 million to P6.4 million.

The Lerato’s day one priority selling snatched up 25 percent of the available units, or half a billion pesos, a record breaker for Alveo Land.

Overseas Filipinos are expected to follow suit with multiple purchases.

The expected turnover of the units is in the fourth quarter of 2015.

Residential towers will have 30 residential floors, two basement-parking levels, four podium parking, one amenity level and a roof deck.

The Lerato is near commercial, retail, educational and institutional landmarks such as Ayala Malls (Greenbelt, Glorietta), Makati Medical Center, Medical Plaza, Ateneo Graduate School, Mapua Institute of Technology, De La Salle Graduate School of Business, Assumption College, Colegio San Agustin, Makati Sports and Makati Golf.

“The Lerato is for the new Makati resident. One that sees Makati not just as a corporate arena but appreciates it as a new frontier that combines work and recreation,” said Abando.

And that’s also to ensure the Makati CBD’s bright future

[joshualegaspi32]

May showroom na ba ito? Saan?

[leechtat]

Meron na sir joshua. Sa greenbelt 1. Along legaspi st, katapat ng charter house, katabi ng bpi. Till may 30 3M lahat ng studios at all floors.

[carrotcake]

Originally Posted by leechtat

Meron na sir joshua. Sa greenbelt 1. Along legaspi st, katapat ng charter house, katabi ng bpi. Till may 30 3M lahat ng studios at all floors.

and how big is the studio?

[leechtat]

all studio sizes are 3M till may 30. Sizes are 31 or 32sqm.

[pat3ck]

leechtat, can you send me info details of lerato? does that include vat? i'm also interested in eton tower and signa residences, if you can provide infos on that as well... thanks!

[leechtat]

sent you pm @pat3ck.

[leechtat]

Some updates...

Good news! We have special term that will help you close more sales!!! DP split in 3 months, 21K over 40 months and Balance on the 41st month at 3.3% interest ONLY! Please see screenshot computation below as your reference.

[kreez21]

Question, magkatabi ba ang Jazz Residences and Lerato?

[leechtat]

hi, they are quite distant from each other. But they are both in this new growth area of Makati - the cemetery perimeter.

NEW promo for JULY 2010 only!

Its like the above but with NO Interest! 10% Downpayment, 40% in 48 months, 50% Balance.



This one is 10% Downpayment - payable for 3 months, another 10% spread over 21 months and 80% slated for Bank Financing.



For this option, its 10% Downpayment - payable for 3 months, the next 20% is payable over 24 months and the 70% Balance is for Bank Financing.



Below is the Availability of Units.



Feel free to ask me questions.

[filcitizen]

Originally Posted by kreez21

Question, magkatabi ba ang Jazz Residences and Lerato?

No hindi magkati. Lerato is across Ayala columns. Jazz residences if I'm not mistaken is near belair.

[Eaton Square]

there are a lot of high-rise construction activities in that area, a clear proof that the cbd is expanding.

[acerkraig]

ano po latest update tong project?
may site development na po ba?

[leechtat]

just clearing of the property. no digging yet.

[acerkraig]

Originally Posted by leechtat

just clearing of the property. no digging yet.

okay, nice, it means tuloy na sya,,

[leechtat]

Render of the Mall at The Lerato



I like the design of the Adult and Kiddie Pool and imagine the view from the rooftop garden.

Still, all studios at 3M for all sizes and floors. If paid within a year, the discount will render it No VAT = 2.4M.

[huanggua]

The price seems rather attractive. But how would this project compare with Signa Residences which is in the heart of Makati CBD? The price difference between these two developments is quite substantial. My concern here is this: At the fringe of CBD there is still vast land to develop. Hope someone can comment on this.

[leechtat]

Signa Residences has a better location since its inside salcedo village and nearer most commercial/corporate establishments/offices than the TCAA and The Lerato location.

Yet, i agree with you, that room for development/expansion is greater for The Lerato area. In Salcedo, you will be able to see the structures already, some improvement will happen when new bldgs are constructed but not unlike in the Lerato Area if they will be able to expand the CBD to the Ayala Ave Extension and Malugay area.

Also, the promise though of Ayala Land is to rehabilitate the area by building a podium mall that will also complement the TCAA establishments. Beside The Lerato also is Alphaland who shall eventually offer residential and commercial options for investors.

Its a matter of preference actually. imho, both projects will deliver.

[huanggua]

Originally Posted by leechtat

Signa Residences has a better location since its inside salcedo village and nearer most commercial/corporate establishments/offices than the TCAA and The Lerato location.

Yet, i agree with you, that room for development/expansion is greater for The Lerato area. In Salcedo, you will be able to see the structures already, some improvement will happen when new bldgs are constructed but not unlike in the Lerato Area if they will be able to expand the CBD to the Ayala Ave Extension and Malugay area.

Also, the promise though of Ayala Land is to rehabilitate the area by building a podium mall that will also complement the TCAA establishments. Beside The Lerato also is Alphaland who shall eventually offer residential and commercial options for investors.

Its a matter of preference actually. imho, both projects will deliver.

Thanks for the valuable insight. My take on this is that expansion of the CBD to Ayala Extension is speculative. There will always be land to develop there. As such the supply is likely to exceed the demand eventually.