Canyon Woods Project Background
Government and private initiative geared in making Tagaytay City and its neighboring municipalities an integrated-tourism center has resulted in a bright economic prospects for the area. The tourism and residential sectors have been the beneficiaries of these undertakings, with the result that high-value residential-tourism-resort projects are flourishing in the environment.
Market dynamics is such that the performance levels of existing players in terms of percentage sold and absorption rates are generally high. However, a majority of the competition offers single land-use types development either in the form of high priced townhouse packages, or fairly large-sized lots, or high-priced golf shares.
A major opening in the market integrated these opportunities into a unified, high-impact development; one that could address all key factors essential to a theme resort setting. Against this backdrop, one such development emerged. Thus, Tagaytay Grassland Company, Inc. (TGCI) was incorporated in October 1993 to development CANYON WOODS RESIDENTIAL RESORT.
Canyon Woods Success Story
Canyon Woods was first to introduce the “residential resort” concept in the Tagaytay-Taal area. It was successful in that it was able to take the concept of multi-product residential subdivision a step further by incorporating resorts elements and activities to compliment the residential development. This concept, strengthened by a theme and character, unified the residential and resort elements into a unique, signature development. The resulting market was, to say the least, very successful.
Successful Product Planning
The project started with the development of a 35-hectare property along Diokno Highway in Laurel, Batangas. As early as August 1995, offering small-lot sizes that time, the Canyon Woods – Phase 1 open lot inventory had been depleted with an average of 18 units per month. Price performance indicators have been very encouraging. Opening prices for open lots in 1994 ranged from P2,800-3,500 per square meter. Current market price is now at 8,500 per sq.m to P12,000 per sq.m.
Introduction of Lodging and Activity Centers
As part of the resort development concept, the provision for lodging and activities have been configured. The developer recognized that the fundamentals of resort development, namely, change of setting and provision for lodging and activities must be present. In view of this, the inclusion of various products supportive to this drive conveys the developer’s long-term commitment to provide end-usage alongside capital appreciation. This has given possibilities to distinguish long-term investors from the speculative market.
Major components of the resort are viable projects in themselves and contribute to the other-all value of the development.
Open Lots. These are arranged strategically to maximize views of the volcano and lake and/or the landscaped open spaces. They are considered as a quick means of generating cash flow.
Single Detached and Townhouse Units. Canyon Homes are “country” theme houses designed by premier architects to ensure that the resort is well occupied, frequented and immediately alive.
Resort Club. Considered as the “nerve” center of the resort, its main objective is to generate activities both for resident and proprietary members in their quest for rejuvenation, recreation and leisure.
Resort & Estate Management. Professional property management services have been settled up to ensure property value appreciation over time. The Homeowners Association, supported by a highly organized and experienced Property Management Group, was immediately put together to handle security operations and landscaping and infrastructure maintenance.
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