On August 27, 2009, Ayala Land Inc. (ALI) signed a joint venture agreement with the National Housing Authority to develop a 29.1-hectare (72-acre) property as a “priming project of the government and the private sector.” The total project cost is estimated at ₱22 billion, which includes future development costs and the current value of the property. ALI and NHA will contribute their respective equity share in the joint venture.[2] The NHA is responsible for relocating settlers living in the area.[3]
On July 5, 2012, Ayala Land Inc. (ALI) announced the development of Vertis North. The company initially invested ₱12 billion for the three-year development of Phase 1 of Vertis North. Phase 1 includes a Kukun Hotel, office buildings for business process outsourcing companies, and Bonifacio High Street-type retail areas in a 7-hectare area.[4]
In October 2015, Bloomberry Resorts Corporation purchased a 15.7-hectare (39-acre) property from the National Housing Authority (NHA) for ₱1.98 billion.[5] It would be developed into a casino called Solaire Resort North, a hotel tower expected to open in May 2024 with up to 550 rooms and a gaming area with up to 200 gaming tables and as many as 3,000 slot machines.[6][7]
[edit]Buildings in Vertis North as viewed from Agham Road.Solaire Resort North
Vertis North covers an area of 29 hectares (72 acres)[8] and is bounded by the Epifanio De los Santos Avenue in the west, the North Avenue in the north, Senator Miriam P. Defensor-Santiago Avenue (formerly Agham Road) in the east, and Quezon Avenue in the south.[1] More than half of Vertis North's area is allocated for office use.[9]
The Ayala Malls Vertis North shopping mall is within the area's premise. The 24-storey Seda Vertis North hotel, among the largest in northern Metro Manila with 438 rooms, is also situated in Vertis North.[10] Above the Vertis North mall is the multi-tower Vertis North Corporate Center, where several BPO companies operate.[9]
Residential developments in Vertis North include Avida Vita, Avida Sola, Alveo's High Park, and Alveo's Orean Place.[3]
Vertis North Rain Garden, which upon its completion will sit on 2 hectares (4.9 acres), is partially operational and open to the public since March 2021.
One Vertis Plaza, a 43-storey office building, was topped off in 2023.[10] Meanwhile, Solaire Resort North, a 33-storey integrated hotel and resort-casino,[11] opened on May 25, 2024, as the first five-starintegrated resortinQuezon City.[12]
The ownership of the project is split 72% for Ayala Land Inc. (ALI) and 28% for National Housing Authority (NHA). The land in North Triangle was owned by the NHA, while the development of Vertis North is a PPP (public-private partnership).
Media related to Vertis North at Wikimedia Commons
