Penrith Council approves new residential complex
Penrith Council gives the go-ahead to a new residential complex that will reflect the “rich aesthetic of the Nepean River and picturesque landscape of the Blue Mountains”.
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A new residential community in Penrith has passed its first development hurdle.
A development application for the first stage of Penway Place, located on the corner of Union and Mulgoa roads, was approved by Penrith Council.
The new development is managed by TOGA, will begin construction in 2020, with completion expected by 2022.
TOGA chief executive Fabrizio Perilli said Penway Place was the perfect location for a growing hub.
“We’ve reached an exciting milestone for Penway Place, as we will start to see the development take shape,” he said.
“Penrith presented a unique opportunity for TOGA to contribute to one of NSW’s fastest-growing cities.
“Penrith is expected to have more than 60,000 new residents by 2031, and we’re proud to deliver on the demand for new housing in the area.”
Sales for Penway Place have already opened, and Mr Perilli said the new development was a great investment.
“It’s an affordable area and ideal location which is experiencing an investment in surrounding infrastructure,” he said.
“These combining factors will drive growth and make Penway Place an excellent opportunity for first-home buyers, downsizers and investors alike.”
SJB Architects and their design partner Architect Prineas will bring the concept to life, which will include a new urban residential and mixed-use precinct with a public plaza.
SJB director Nick Hatzi was looking forward to working in the Penrith community.
“Penway Place’s prime location within the Penrith community meant we were able to design a new landmark for Penrith City with open, lively and connected spaces for everyone to enjoy,” he said.
“The design reflects the rich aesthetic of the Nepean River and picturesque landscape of the Blue Mountains.”
The first stage of the larger masterplan for Penway Place will comprise two residential towers rising above a three-storey podium with ground level retail and three levels of carparking.