VisMin developer Cebu Landmasters Inc. (CLI) announced the signing of a Memorandum of Agreement (MOA) to acquire 14.3 hectares of Xavier University (XU) – Ateneo de Cagayan’s Manresa Property in uptown Cagayan de Oro. Proceeds of which will be used to develop the new XU Masterson Campus, which at 21 hectares will be three times larger in area than the current campus.
Provisions in the agreement prepared by Xavier University and endorsed by Jesuit leaderships in the Philippines and in Rome were approved by the Vatican after a thorough two-year review process. This also followed a series of several consultations held in 2019 with XU’s employees, students, alumni, parents, CDO officials, clergy, and other members of the CDO community.
The new 21-hectare XU Masterson Campus, named after the late Fr William Masterson SJ, is envisioned to catalyze development in Northern Mindanao with a Sustainable and New Normal-ready Campus Masterplan – characterized by an abundance of space, green areas, wide roads, dedicated bike lanes, campus-wide wireless connectivity, and healthy and adaptable learning facilities for virtual and physical classes. This “Campus of the Future” aims for a more socially relevant and inclusive learning institution focused on strengthening Xavier University’s colleges and schools.
The masterplan of the XU Masterson Campus will blend seamlessly with the adjacent Manresa Town to be developed by Cebu Landmasters, a 14.3-hectare mixed-use university town with generous open spaces providing XU students convenient and safe residential options, easy access to commercial establishments and future-ready offices. This University Town concept creates strong synergies which will benefit both XU and the surrounding uptown CDO community.
After the necessary permits are secured, development of the campus is scheduled to begin in 2Q 2022. The 21-hectare “campus of the future” will be supplemented by over 25 hectares of surrounding forested area. The Masterson Campus is scheduled to open in 2024. Prior to that, the current campus will still continue operating in downtown CDO. On the other hand, CLI also targets to complete Phase 1 of its Manresa Town development over the same period.
“We envision an academically stronger university in this new campus – one that will facilitate learning in the new normal and at the same time produce men and women for others that can make relevant contributions to Mindanao,” says Fr. Mars P. Tan S.J., President of Xavier University and an environmentalist.
CLI chairman and chief executive officer Jose Soberano III declared that the listed company is honored to be part of this game-changing project for both XU and CDO. “Both CLI and XU have always shared the same goal – this New Campus and University Town is truly for the betterment of the people of Cagayan de Oro City. This development will serve as a key catalyst for both the education and economy in the entire region.”