Former Penrith Rugby League player turned property developer Lou Zivanovic has received development approval for the first stage of his $500 million residential development known as “ESQ 1818”.
Zivanovic’s flagship company, Cabe, submitted the proposal, which will deliver 850 residential apartments.
Cabe has partnered with the Penrith Rugby League Club on the development in what will be the Panthers’ biggest property project.
Cabe’s agreement with the Penrith Panthers was outlined in the club’s annual report.
Related reading: PM Unveils Long-Awaited Western Sydney City Deal
“An agreement has been executed with developer Cabe who has submitted a plan for the development of a minimum 512-apartment complex with commercial facilities,” the annual report said.
“Subject to approval by council, it is anticipated that the construction will commence in June 2018.”
Architecture firm Turner Studio has been appointed to design the residential ESQ 1818 (East Side Quarter) alongside Oculus landscape architects. The development will feature retail, lake frontage, communal spaces and landscaped boulevards, nature walks and running tracks.
50 per cent of the site has been allocated to landscaping.
“In addition to the amenities this project will deliver in the heart of Penrith’s entertainment precinct, we also have plans for a future eat street as well as resort-style living with wellness retreat, private club, dining and exclusive entertaining areas,” Cabe chief executive Andrew James said
Related reading: Sydney Central Station’s $955m Urban Transformation
“This will be the first of its kind for Western Sydney".
“Our plans for this site meet the State Government's vision to provide high-quality attainable housing with an array of amenities and employment opportunities near transport corridors,” James said.
ESQ 1818 development Stage 1 is scheduled to launch in 2nd Quarter 2018.