Fundamental positive shift in new city devt seen in Gracefield Phoenix initiative

Perhaps for too long city development in this part of the world has been a lot more rudimentary, conservative and conventional than what obtains in other climes, which is why the new initiative by the Lagos State government for the development of Gracefield Phoenix is innovative and welcome.

Gracefield Phoenix is one of the real estate and infrastructure projects that will be rising from the land reclamation from the Lagos Lagoon recently approved by the state government as part of the new Lekki master-plan.

The project, an initiative of the state’s Ministry of Waterfront Development and Infrastructure, is being developed by Gravitas Limited and, according to Olufemi Babalola, the company’s chief executive, Lagos is set to witness a fundamental positive shift in new city development and real estate construction as Gracefield Phoenix is designed and being implemented to be eco-friendly, ensuring sustainability in all aspects of the development.

According to him, there is plan in place to monitor and control carbon emission on the development, ensure recycling is an integral part of waste management and that pollution of the lagoon environment is avoided, adding that pockets of conservation areas and creation of natural woodlands are planned into the development while the project has been submitted for certification by leading sustainability and green standard institutions in Europe and United States.

Shedding light on this new development, Adesegun Oniru, the Waterfront Development and Infrastructure Commissioner, stressed the state government’s determination to make Lagos a desirable destination for international capital and a world-class liveable city, adding that Gracefield Phoenix was part of efforts by the state government to maximise the benefit of being a coastal state.

Gracefield Phoenix is conceived to be delivered as a truly live, work and play environment, offering premium lifestyle to match any other prime development in the world, while its residential is designed to have premium properties on substantial plots measuring over 2,500 square metres each.

There will also be varieties of house-types ranging from condominiums to terraced houses and single household units, constructed to world-class standard and offered at reasonable prices. The commercial area will have an upscale shopping area that is suited to serve the development, just as the business park will offer purpose-built office environment to generate the vibrancy and orderliness necessary for wealth creation centres.

A promenade spanning almost the circumference of the development, with yacht basin, bistros, cafes, restaurants, etc is a key feature. The interesting thing, according to Gravitas, is that property prices here compare favourably with the international market and, therefore, substantially lower than many developments in Ikoyi and surrounding areas.

Looking at the project’s fundamentals, it is seen that the state government did its homework well in granting necessary approvals as the project is quite strong on compliance. An elaborate environmental impact assessment (EIA) has been carried out, and approval obtained. The project also enjoys Federal Government’s approval, amongst a myriad of other regulatory approvals.

Chuka Uroko