Cebu Landmasters Inc. and the Archdiocese of Cebu have secured the approval of the National Historical Commission of the Philippines to push through with the planned redevelopment of the Patria de Cebu property.
CLI said in a disclosure to the stock exchange NHCP gave its approval to the project after both parties agreed to preserve the historic edifice of Patria de Cebu to keep its rich heritage intact.
“The final design of Patria de Cebu is a collaboration between the Archdiocese of Cebu, CLI, and key stakeholders. It was agreed that it is crucial in the redevelopment to keep the main Patria building while integrating it with a new practical structure to preserve the heritage of the Patria for the people of Cebu,” CLI president and chief Jose Soberano III said.
CLI and the Archdiocese of Cebu in Cebu finalized a joint venture partnership to develop and operate a mixed-use development in the 6,670-square meter Patria de Cebu property for a period of 40 years.
The P900-million development is expected to serve as a centerpiece of the 500th year celebration of Christianity in Cebu in 2021.
With the NHCP approval, CLI said construction was expected to start in October. Commercial operations are set to begin in July 2022.
The Patria de Cebu project will include the renovation of the main building to accommodate retail and office spaces in the ground and second floors.
It will have about 21,000 sq. m. of gross floor area, including 4,320 sq. m. of retail spaces featuring a mix of food, dining and entertainment establishments; 4,400 sq. m. of office space; and 11,700 sq. m. of hotel space for approximately 167 guest rooms with provision for events, meetings, and other functions.
A large central interior courtyard will be the focal point of the property, highlighted by a rooftop for open-air events.
From its origins as a youth recreation center, Patria de Cebu has been used as a convent for nuns, and finally as a budget-friendly hostel for city visitors needing clean, safe yet inexpensive accommodations.