LISTED property developer Megaworld Corp. is investing P20 billion in an old Manila-inspired mixed-use development on the former San Lazaro Hippodrome site in Santa Cruz, Manila.
The Winford Resort Estate seeks to relive Manila’s pre-war era and will feature condominium developments, a hotel, and a commercial strip, Megaworld said in a statement on Thursday.
The development will be built in Santa Cruz, Manila, on the site of the former San Lazaro Hippodrome, a horse racetrack that popularized betting in the early 1900s before it was demolished in 2003 to make way for the San Lazaro Tourism and Business Park.
“We are designing Winford Resort Estate to honor the rich heritage of this historic area with a fresh look that reflects Manila’s golden years,” said Kelvin Uy, head of sales and marketing at Megaworld Manila.
Winford Resort Estate will also feature French Renaissance, Neo-Classical, and Art Deco influences in its masterplan.
A planned highlight of the estate is the Manila Paseo, which will offer retail and leisure options alongside cobblestone walkways and heritage-style façades.
The area draws inspiration from historic walkways such as Escolta Street in Manila and Calle Crisologo in Ilocos Sur, according to the developer.
Also to be built within the estate is the 17-storey One Crown Suites, which will have 389 residential units targeted at students and young professionals.
The condominium tower will offer studio to two-bedroom units equipped with wireless smart home systems.
It will also feature amenities such as swimming and kiddie pools, fitness facilities, co-working spaces, game and function rooms, a roof deck with a garden, lounge, badminton court, and a half basketball court.
“With One Crown Suites, we wanted to create a home that’s practical for students and young professionals, but also forward-looking,” Mr. Uy said.
Winford Resort Estate is envisioned as a lifestyle and residential hub for students, families, and professionals, the developer said.
It is located near the University Belt area, home to many of the country’s major colleges and universities.
The development is also accessible via Felix Huertas Road and is near public transport options, including the Light Rail Transit Line 1.
Nearby hospitals include the Chinese General Hospital, Fabella Hospital, and Philippine General Hospital.
Megaworld has yet to provide details on the project’s timeline, total land area, and whether the P20-billion allocation covers the entire masterplan or only its initial phase. The company has also not disclosed the unit prices or sales launch for One Crown Suites, as well as the funding source for the development.
Megaworld posted a 35% increase in its second-quarter attributable net income to P5.6 billion from P4.15 billion a year earlier, driven by demand across its leasing, residential, and hospitality segments.
At the local bourse on Thursday, Megaworld shares rose by 0.49% or one centavo to close at P2.04 each. — Beatriz Marie D. Cruz
