Private developer Toga Group has submitted a proposal for a four-building mixed-use precinct in Sydney’s west.
The first stage of Toga’s larger masterplan, “Penway Place”, will comprise two residential buildings rising above a three-level podium with ground level retail and three-storeys of car parking.
The $63.5 million residential towers will be made up of 63 one-bedroom, 103 two-bedroom and 21 three-bedroom units with a total ground floor area of 17,785sq m.
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Toga amalgamated three sites across High Street and Union Road in Penrith in December 2014. The developer paid about $17 million for the sites.
A design competition for the site’s master plan was won by SJB Architects with design partner Architect Prineas.
“SJB and Architect Prineas’ concept for Penway Place most closely matched our own vision for this part of Penrith and the community,” Toga chief executive Fabrizio Perilli said.
Perilli said that it’s exciting times for what he calls Sydney’s “new west”.
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“The railway station and interchange have been recently upgraded, with sustainable developments and smart infrastructure already under way to support the growing population.
“This population will undoubtedly need access to quality, affordable housing, from first homebuyers to downsizing locals, and this is what we are aiming to provide for the community," Perilli said.
With the Penrith population expected to grow to 258,195 by 2036, Penrith City Council recently released an economic development strategy, targeting an increase of between 42,000 and 55,000 local jobs by 2031.
SJB director Nick Hatzi said that the opportunity to contribute to the growth of Penrith was a key reason the firms submitted designs for Penway Place.
“We see this development playing a major part in Penrith’s increasing recognition as a key destination in an emerging market, through delivery of a high-quality public realm, as well as first-class civic and retail amenities,” Hatzi said.