Redevelopment deal signed for John Hay Mile Hi complex – BusinessWorld Online
THE Bases Conversion and Development Authority (BCDA) said it tapped the consortium of the Istana Development Corp. (IDC) and Meridian Commercial Centers, Inc. (MCCI) to lead the P560-million redevelopment of the Mile Hi commercial center in Camp John Hay.
In a statement on Monday, the BCDA said the deal was signed on Oct. 6. The concession holders are tasked with upgrading the 6,647-square-meter Mile Hi into an upscale commercial center, “while preserving its historical significance and enhancing the natural and built environment of the surrounding area.”
Istana-Meridian’s brief includes incorporating sustainable design features to reduce greenhouse gas emissions, water and energy consumption, and waste generation.
The complex is envisioned to maximize access to natural light and ventilation, implement thermally efficient building designs, and use solar power.
“Mile Hi will once again be a place that welcomes visitors, strengthens local livelihoods, and sustains the spirit of Baguio for generations to come,” BCDA President and Chief Executive Officer Joshua M. Bingcang said during the signing.
The BCDA took over the Camp John Hay property after the previous management, CJH Development Corp. (CJHDevCo), was ordered to vacate in the wake of a Supreme Court ruling. — Beatriz Marie D. Cruz