With Ayala scrapping its plans for Ayala Triangle at the wake of the Asian Financial Crisis of 1997, development has stalled in the property for a long while. For a long while, the Ayala Triangle remained a dormant property, save for the activity going on in the existing structures as well as at the park.
At the same time, the park grew as a popular open space, especially among those who work in the Makati CBD area being one of the few open spaces available in the midst of the rapid development and the towering steel and concrete structures that have sprouted in the area, even though not much has been done in the park throughout those years.
More than a decade later since the crisis, Ayala was ready to look again into the redevelopment of Ayala Triangle once again through its property development firm Ayala Land. And it was appropriate enough that the redevelopment efforts would begin with the park. Continue reading