Construction has commenced on the first residential apartment precinct to be built in Thornton, in Penrith’s city centre. Thornton is set to lead the way in a new style of urban living in Sydney’s West.
The 500-plus apartment and 5,500 sqm commercial precinct adjacent to Penrith train station is the first multi-level residential apartment precinct to be built in the heart of Penrith. The precinct is part of the wider Thornton community, masterplanned by UrbanGrowth NSW, and features a high level of amenity and housing diversity close to transport.
The Thornton residential apartment precinct is a joint venture development between leading private construction and property-company St Hilliers, and First Point Projects retail and community developers.
St Hilliers Executive Chairman, Tim Casey, said there is an increasing demand for quality residential developments throughout Western Sydney.
“An apartment precinct in the Penrith city centre is unprecedented. This is a game changer and reshapes how people will live.
“The proposed retail precinct with its cafés, restaurants, a gymnasium, a supermarket, hotel and medical centre will give residents inner city living at their doorstep.
“The new community of around 5,000 residents will have high quality residential, commercial and retail amenity adjacent to the train station with recreational features, a water canal, village green and other open spaces,” Mr Casey said.
Award winning architects, DKo were engaged for the initial and current stages of the project to deliver the interior living spaces and exterior building design.
Clr Ross Fowler – Mayor of Penrith, Fiona Scott – MP Member for Lindsay, Stuart Ayres – Member for Penrith, Tim Casey – St Hilliers, Deborah Landes – First Point Projects, Mark Hovey – First Point Projects
Mark Hovey Executive Director, First Point Projects said Thornton has received strong support from the local market, in particular the first homebuyers.
“They love Thornton as the pricing point allows for stamp duty exemption and they receive the first home buyers grant; and downsizers love it as they still stay in the community and enjoy the local amenity.
“The $62.5 million initial stage of Thornton, went to the market in late 2014. All 151 apartments delivered over four buildings sold out very quickly. Getting construction underway today has allowed us to bring the next stage of the project to the market and work our concept designs for the following stage.
“We have commenced pre-sale registration on the 191 apartments ahead of a sales day on the 1 August 2015. The $101 million stage will be built over one five-storey and two nine-storey buildings.
“The key attraction of Thornton is its prime location. The Thornton apartment precinct is set to be the cornerstone of Penrith’s CBD expansion and revitalisation,” Mr Hovey said.
Mr Casey said St Hilliers/First Point Projects had strong support from UrbanGrowth NSW, Penrith City Council and the State government for their concepts for the apartment and retail/commercial precinct.
“Penrith is changing along with Western Sydney and Thornton is the shape of things to come. This is about taking the city of Penrith to another level,” Mr Casey said.