Megaworld opened its eight-lane avenue and switched on its streetlights at The Upper East township in Bacolod City, and announced that it is increasing its investment in the area to P45 billion at rites held Friday night, April 29.
The kilometer-long Upper East Avenue connects Lopez Jaena Street to the Carlos Hilado Highway, and it is hoped that it will ease traffic congestion at Burgos Street in Bacolod.
The Upper East Avenue is composed of six road lanes and two “on-street” parking lanes, Harold Brian Geronimo, Megaworld senior assistant vice president, said.
It is open for both private and public vehicles, subject to the traffic rules and regulations of its own estate management group, which will deploy traffic marshals around the area.
The Upper East Avenue opening was attended by Bacolod City officials led by Mayor Evelio Leonardia.
Leonardia it is the most beautiful avenue in Bacolod and represents the city’s road to recovery from the COVID-19 pandemic.
The mayor said he had requested Dr. Andrew Tan , Megaworld chairman of the board and president, to open the Upper East Avenue immediately.
“I felt it was a necessity not just for traffic but for us to say that we are now on the road to recovery,” he said.
“If we can open Megaworld all the rest will follow. This is like a new dawn in Bacolod after the pandemic,” Leonardia said.
Megaworld is increasing its capital spending in Bacolod City to P45 billion, particularly in The Upper East, as it ramps up construction activities inside the 34-hectare township near the Bacolod Government Center, Jennifer Palmares-Fong, vice president for sales and marketing of Megaworld Visayas, announced.
In 2015, Megaworld announced that it was pouring in P35 billion to develop two townships in Negros Occidental – the 50-hectare Northill Gateway at the boundary of Talisay City and Bacolod City, and The Upper East – for a period of 10 years.
“We are adding P10 billion more to our investment for The Upper East as we see great potential and opportunities for this new township, which is now fast rising to be Bacolod’s first modern central business district,” Palmares-Fong said.
Megaworld has already completed the construction of the 12-storey One Regis, its first residential condominium project in the Upper East, which is due for turnover within the year, she said.
The company also recently topped off the second tower, the 14-storey Two Regis, and it is set to be completed next year.
Two more condominium towers are in the construction pipeline, the 14-storey One Manhattan and the recently-launched 12-storey Herald Parksuites. So far, the company also has around 1,000 units inventory in The Upper East, Palmares-Fong said.
“Our first BPO office tower development, No. 1 Upper East Avenue, has also started its construction. Soon, we will also begin the construction of our commercial developments in this township. Indeed, exciting times are up ahead in The Upper East,” she said.
Secondary roads within The Upper East, which will be at least 20-meters wide, are also now being completed. There will also be an extensive network of bike lanes inside the township to help promote efficient and convenient mobility, she said.
Continuing its rise as the city’s first master-planned mixed-use community, The Upper East will soon have its own Megaworld Lifestyle Mall, commercial parks, hotel, church, and other institutional and recreational facilities.*