The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
LESS THAN 2 WEEKS UNTIL OUR FLAGSHIP CONFERENCE JOIN MORE THAN 550 ALREADY ATTENDING
JUST 2 WEEKS TO GO UNTIL URBANITY-25 550+ ALREADY ATTENDING
REGISTER NOWDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
81
print
Print
ResidentialAna NarvaezTue 25 Jun 19

Desane Lodges Plans for 273 Apartments in Penrith

220d6336-b7f9-4fb5-a7ff-b1e3468ed01b

ASX-listed Sydney developer Desane has lodged plans for the development of a 273-apartment mixed-use project in Penrith.

Desane said the development at 91 Thornton Drive will include 30 affordable dwellings and provide ongoing medical and “knowledge-based” employment opportunities to complement the recently-approved Nepean Health Precinct.

The value-add move was flagged by the developer shortly after purchasing the site in 2017, engaging planning group Urbis to conduct initial discussions with council for the re-zoning of the 1.2-hectare site.

At the time, Desane said the site could yield 1,800sq m of commercial space and more than 250 apartments.

Desane acquired the site from public sector agency UrbanGrowth NSW for $3.9 million. The developer says the construction of the site will cost $138 million and generate 380 construction jobs.

The project adds to ongoing residential development in Sydney’s “third” mini-metropolis, the Western Parkland City, joining First Point’s Thornton Central and Urban Property Group’s Sheffield Quarter.

The Thornton Street site is located about 500 metres from Penrith’s CBD and train station.

▲ Desane’s proposal is set to bring 273 new apartments to market, including 30 ‘tenure-blind’ affordable dwellings. Supplied.


Desane head of property Rick Montrone said the proposal is consistent with the council’s “Thornton Lifestyle Village” plans aimed at bringing living and working opportunities within a 15 minutes walk of the city centre.

“Our proposal offers key workers and young families the opportunity to secure a significant level of affordable housing,” Montrone said.

Desane said it expects the proposal will take about 18 months from the date of lodgement to be approved.

Desane’s earnings last financial year were $39.7 million, which it attributed to the sale of its Rozelle property in October.

Desane sold the Lilyfield site for $78 million after a long-running legal stoush with the NSW Roads and Maritime Services.

RetailResidentialAustraliado not useParramattaReal EstatePlanningPlanningSector
AUTHOR
Ana Narvaez
The Urban Developer - Editorial Director
More articles by this author
ADVERTISEMENT
TOP STORIES
Kurraba Point 93 Kurraba Road TUD PLUS
Residential

Council Over Court: How HFO Won Rare North Sydney Approval

Vanessa Croll
7 Min
Exclusive

Why Sentinel is Betting Big on Olympic City Office Sector

Phil Bartsch
5 Min
The Port of Brisbane has released its Vision 2060 which details the need for inland rail connectivity
Infrastructure

Brisbane Port’s $15bn Future Faces One Big Obstacle

Renee McKeown
5 Min
Freecity Rouse Hill triple towers 2 Tempus Street
Exclusive

Freecity Takes Covers Off $330m Triple Towers in Sydney’s North-West

Leon Della Bosca
5 Min
Parallel Workshops Stockdale Housing PBSA project
Exclusive

Suburban Success Story Turns PBSA Thinking on its Head

Leon Della Bosca
7 Min
View All >
Inglewood Beaufort Street rendering front HERO
Residential

Apartment Scheme Revealed for Perth Heritage Strip

Leon Della Bosca
Residential

Fortis Plots Placemaking Project at Hamilton

Taryn Paris
NSW Housing Pattern Book HERO.
Policy

Housing Pattern Book Supercharges NSW Planning

Vanessa Croll
Zero to approved in 10 days: Developers are being offered a $1 introduction to the “largest reforms in NSW’s history”…
LATEST
Inglewood Beaufort Street rendering front HERO
Residential

Apartment Scheme Revealed for Perth Heritage Strip

Leon Della Bosca
3 Min
Residential

Fortis Plots Placemaking Project at Hamilton

Taryn Paris
2 Min
NSW Housing Pattern Book HERO.
Policy

Housing Pattern Book Supercharges NSW Planning

Vanessa Croll
5 Min
Kurraba Point 93 Kurraba Road TUD PLUS
Residential

Council Over Court: How HFO Won Rare North Sydney Approval

Vanessa Croll
7 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/desane-lodges-plans-for-12ha-site-in-penrith