Cebu Landmasters tops off its premier residential tower 38 Park Ave in Cebu IT Park
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Cebu Landmasters Inc. tops off Php 3.5 billion New York-inspired tower in Cebu IT Park
Leading VismMin developer Cebu Landmasters Inc. (CLI), with joint venture partner El Camino Developers Inc, topped off its Php 3.5 billion high-end tower, 38 Park Avenue, last June 8th at Cebu IT Park despite lockdowns due to the pandemic.
The 38-storey tower is already 96% sold and is envisioned to be among the most preferred residential locations in Cebu. The development offers upscale residential units and a lifestyle center within The Plaza, a generous park space with retail area. The next phases are currently under the planning stage.
The mixed-use development is inspired by New York City’s high-end residential towers and is developed and managed by CLI in partnership with El Camino Developers Inc., a consortium of five homegrown property companies composed of Gothong Southern Properties, Acrissor Development Corp., 12Sika Holdings Corp, RKP Property Holdings Inc. and Cebu Landmasters.
38 Park Avenue, awarded as the Best High-End Condominium Development in Cebu for 2019 by the 7th Annual Property Guru Philippines Property Awards, offers 764 units with 459 studio units, 230 one-bedroom units, 56 two-bedroom units, 11 three-bedroom units and eight penthouse units. All units have been laid out around a soaring atrium that infuses light and energy to the entire development, according to top architectural firm Aidea Philippines and international design consultant Callison RTKL. It is set to feature a Sky Club on the 26th and 28th floors, 8 elevators, a Grand Atrium, 3-level basement parking, 2 high ceiling lobbies – with one each in the East and in the West Wing. The project also has a fitness gym, lounge areas, swimming pool, multi-function hall.
CLI chief operating officer Franco Soberano says: “38 Park Avenue’s distinct sustainable design, its generous mixed-use masterplan and premium location within the Cebu IT Park ensure that it will offer a new residential option not only for Cebuanos, but also for business and leisure travelers from other global markets. The Cebu property market remains to be one of the bright spots in the region with sustained demand and highly resilient property values.”
