ITPI pushes for more innovations with expansion plan
The P450-million, 10-story residential-commercial project is on a cool 110-meter elevation in Cagayan de Oro City.
Primavera Residences is the first high-rise eco-friendly mixed-use building in Cagayan de Oro. It has been designed by award-winning Italian Architect Romolo V. Nati, following eco-friendly criteria. Its developer, ITPI Corp. (ItalPinas Euroasian Design and Eco-Development), is one of the first sustaining members of Philippine Green Building Council and was founded in 2009 by Nati and Filipino partner Atty. Jojo Leviste.
The multi-awarded building is designed to maximize natural ventilation and light. A green inner courtyard and cross-ventilation layout enhance natural airflow and light, and help the building mitigate high temperatures during summer, while the windows-shading facade minimizes direct solar illumination on the windows.
Primavera Residences is one of the first buildings in the Philippines to be equipped with photovoltaic solar panels, which produce renewable energy while providing roof shadow protection. This will be accomplished through ITPI’s affiliation with Constellation Energy Corp., a company also headed by Leviste. It is in fact the synergy between the two companies that allows ITPI to develop eco-friendly buildings with energy-saving and energy generating features.
The project also allows natural air and light to come into the building through the inner courtyard. Shaded façades minimize direct solar illumination on the windows, moderating temperatures inside each unit, thereby lessening the need for air conditioners, and residents are able to reduce their total energy consumption by up to 20%. These eco-friendly features also help make the building typhoon and earthquake resistant. On ordinary days, unobstructed air flow is part of Primavera’s design function as a natural ventilation system. During strong storms, the design lessens the impact of strong winds on the tower by rerouting rather than blocking them.
31The P450-million, 10-story twin-tower residential and commercial project is located at the corner of Trade Street and Gran Via Street along Masterson Avenue in the master-planned 360-hectare Pueblo de Oro Township in uptown Cagayan de Oro, easily accessible by public transport and within walking distance of SM CDO.
Primavera Residences is at the heart of a growing business and commercial district in Misamis Oriental in Mindanao, the Philippines’ second largest island. The project is surrounded by landmarks such as: SM City; CDO’s top schools like Xavier University Ateneo de Cagayan; and the newly built St. Francis Xavier Chaplaincy.
Natural lighting and ventilation is maximized.
Top institutions laud project
Recently, lending institutions such as Landbank of the Philippines and BPI-Family Savings Bank showed confidence in financing development of Primavera Residences.
Landbank was the first institution to provide a loan, earlier announcing that it had granted a P130- million term loan to ITPI.
BPI-FSB then granted a P180-million green development loan to ITPI to partially finance the construction of its Primavera Residences Tower 2. BPI, which advances its Sustainable Energy Finance (SEF) by continuing to support the energy investments of its clients in collaboration with International Finance Corp (IFC) and their 4-year-old innovative financing approach, funds various efficient and renewable technologies all over the country.
Primavera Residences’ other important partners include Investment Capital Corporation of the Philippines, Board of Investments, Philippine Green Building Council, Habitat for Humanity Philippines, and Compassion and Responsibility for Animals.
The Primavera Residences Tower 2 will provide 167 residential units to serve young urban professionals, families of overseas Filipinos (OFs), balikbayans, and expatriates. Tower 2 is set to finish construction in the third quarter of 2014. The first tower, completed in 2012, has a capacity of 162 residential and commercial units and is almost sold out.
The Private Financing Advisory Network (PFAN), a multilateral public-private partnership initiated by the Climate Technology Initiative (CTI), noted that Primavera’s design has a remarkable degree of social and environmental stewardship, with a high potential to scale up an excellent management team and cutting-edge technology.
Primavera Residences was among the “Most Promising Clean Energy Investment Opportunities in the Philippines” during the 2010 Climate Technology Initiative Private Financing Advisory Network (CTI PFAN) Clean Energy Investor Forum in Manila, whose funding partners include USAID and ADB. Primavera Residences was also adjudged “One of the Best Condo Developments in the Philippines” from the Southeast Asia Property Awards (SEAPA) held in Singapore in 2011.
Hotspot for learning
Civil engineering students from the Unified Students of the Philippine Institute of Civil Engineers – CDO Chapter recently visited Primavera Residences to learn about sustainable technology.
The students from Capitol University, Mindanao University of Science and Technology, Xavier University and Cagayan de Oro College listened as ITPI Sales and Marketing Director Gladys M. Echano described ITPI’s projects, design philosophies and strategies.
Nati’s sustainable choice
Nati believes that an ecofriendly design is more than just using high-tech, expensive materials. For him, what ITPI calls the “eco-logic design” allows buildings to be more sustainable in the long run without incurring additional construction costs.
For Primavera Residences, ITPI took a holistic approach to come up with a practical solution to help increase efficiencies while reducing long-term maintenance costs.
Nati revealed that he chose uptown CDO—110 meters above sea level—as Primavera Residences’ location because of the good urban planning, better air quality and elevation.