HOUSING for the ambulant elderly in the US has been subsidized by their government for years.
In the Philippines and in many developing economies, governments do not usually set their focus on their elderly. The private sector, specifically companies, goes through a lot of trouble to come up with units that fit their customers’ specific housing need. Thus, housing here especially developed for the elderly is a relatively new business concept.
Real-estate developer Philippine Realty and Holdings Corp. (PhilRealty) is set to build condominium units geared toward the active senior population.
PhilRealty President and CEO Andrew Alcid said the company is targeting multigenerations, following last year’s statement of making One Balete in Quezon City a family compound reinvented. This new project that targets the senior members of the family tries to create a space for them that’s both convenient and comfortable. The layout or orientation of the bathrooms and kitchens will be a little bit different from a regular condominium.
“In other words, you build a regular home but the sinks may be a little bit lower, the faucets used are different from the regular faucets you find in regular condominiums. So it’s really geared toward the older generation, especially for the active seniors,” Alcid said
The utility area will also provide space for maids or caregivers if the seniors want their company.
Accessibility also won’t be a problem because this third tower in One Balete will have senior occupants up to the eighth or ninth floor, making it easier for them to be carried down should there be an emergency, said Ramon Olives, PhilRealty vice president and chief brand officer.
“The reason we also [put them] in the lower floors is because you have to understand how far a snorkel truck or a fire truck can reach in case of an emergency,” he said.
The tower, which Alcid estimated would consist of up to around 150 units, follows an upper- and lower- house concept, where the former would be occupied by the younger crowd. Though it’s a senior-assisted living facility, it will not be geared toward the convalescent or the elderly who need 100-percent medical attention, he said.
This project falls under PhilRealty’s health-care thrust and will be built within close proximity to medical facilities, like St. Luke’s Medical Center, like the soon-to-be-built third tower in One Balete. Alcid said they are also looking at locations out of town, making sure each one is strategically placed near hospitals to cater to the needs of older people more easily.
“I’m hoping that by early next year, we can start, as soon we hit a certain critical mass within Sky Villas,” Alcid said.
Sky Villas is a 113-unit condominium in One Balete which is the company’s current focus. Real estate and health care are just two of PhilRealty’s five corporate pillars; power, education and financial services are the other three.
Rizza Marie Edu / Special to the BusinessMirror