An artist’s rendering of Northstar Condominium when it will be completed next year. (IWPVC WEBSITE)
AFTER topping off its 16-story condominium building in the North Reclamation Area in Mandaue City recently, a homegrown developer, Iron Wood Property Ventures Corp. (IWPVC), is looking forward to its next condominium development venture in the city.
Roy Aznar, IWPVC sales marketing chief, said that the company would be putting up another condominium development along the national highway in Mandaue City next year.
Aznar said the project would be targeted on young professionals and start-up families belonging to a lower income market segment.
Aznar, however, did not preempt the specific details of the project as this has yet to be thoroughly discussed by the company by the first quarter of 2017.
The project will be carried out mid-2017.
“We are definitely considering other areas in Mandaue because it’s a booming city,” Aznar told Cebu Daily News in a phone interview.
The firm, which operates Copenhagen Residences, a service apartment on A.C. Cortes Street, also topped off its Northstar Condominium along Larrazabal Avenue last Dec. 14.
Northstar Condominium, IWPVC’s flagship project in the vertical development, hosts a range of amenities, including car access elevators. It is also a 16-story building with 186 residential units that come in studio, bedroom, loft and premium loft variations.
Since it started construction in July 2015, the project had already posted a sales take up of 80 percent.
According to the IWPVC, the prices of the units range from P4 million to 6 million depending on the room.
Aznar said a huge portion of the condominium units or about 60 percent of the buyers are made up of parents of students going to a nearby medical school, while the other 40 percent are made up overseas Filipino workers, foreigners and young professionals.
“Among the reasons for the project’s fast uptake is its accessibility to schools, hospitals and malls. Also, we were the first to develop a condominium project within the area that shall be completed within the year and the year to follow,” Aznar said.
The condominium development, which sits in a 1,250-sq.m. lot hosts a back-up generator and a 22-meter lap pool, an art gallery and a roof garden.