TO PROVIDE more UST employees the convenience of owning residential units near the campus, the proposed UST-exclusive condominium in 2003 is moved to a more spacious 1,300-sq.m. lot in G. Tolentino St. near España Avenue.
Formerly dubbed “St. Thomas Suites,” the “Magister Suites I” is a Quality Life Enhancer (QLE) project of the Thomasian-pioneered Educators’ Nest Development Corporation (ENDC). According to ENDC president Atty. Marlon Valderama, the condominium is aimed to set an example of “quality living” for other residential establishments in the UST area.
ENDC has partnered with Magister Suites I Corporation, New Kanlaon Construction Inc., Design Coordinates Inc., and the architectural firm, Recio Casas and Associates.
Valderama said the now 24-storey condominium would have 382 residential units, a ground-floor commercial spot, and an enlarged three-level parking area. The other planned amenities include swimming pools, multi-purpose rooms, and a gym on the fifth floor. The building will also have a sewage treatment plant, a laundromat, an Internet café, a salon/barber shop, and a day care center.
There is already a considerable number of existing reservations from employees which Valderama assures will retain their original prices, but for a “limited period.” A studio unit costs P1.2-million and the two-bedroom unit, P2.6-million—regardless of the additional amenities.
On the other hand, the prices for the new buyers are still being finalized. The ENDC is also negotiating with some banks to lower the down payment to 10 per cent and lengthen the 15-year installment period to 25 years.
The condominium’s groundbreaking will be on July 31 while actual construction will start in September. It is projected to be finished by the last quarter of 2006.
ENDC will be putting up an information booth in the pay parking where interested buyers can apply after the groundbreaking.
ENDC also plans to have an interior design contest for the residential units to be participated in by UST students. J.R.T. Cabangcalan with reports from Jose Bimbo F. Santos
