Onsite reports state that the ongoing earthfilling activities right across Paseo Mall and ZCX Convention Center is being undertaken by Gaisano.
Accordingly, rumors indicate that Gaisano has bought the lot, which is not part of the Pelaez property for the mixed use development of Paseo del Rio. Workers onsite said they do not know what Gaisano will build at the site but huge stockpiles of recently delivered eaerth materials could be seen onsite as shown below. Although this site was flooded during Sendong, engineering works such as backfilling and elevating the ground floor could help mitigate it. Gaisano may have considered the promising business opportunity in the area. Because of the area (estimated to be 8,000 square meters more or less), a mini mall or department store could be feasible. Gaisano could get the “masa” crowd which is not the intended clients of Paseo Mall, which I assume will target the upper middle to upper class of society.
Below is the location of the property as taken from google-earth. The property boundaries are just my assumption based on the workers’ statements and natural boundaries as seen from google-earth.
Even with Paseo Mall and Convention Center yet to be finished, small developments have already taken place in the vicinity of the Gaisano lot such as The Backyard and Mitz Restobar – both are now popular night spots among the yuppies in the city.