The developer of an apartment scheme next to a busy Sydney train station wants to add four storeys and 150 apartments to the development.
Urban Property Group is seeking the modification to its plans for 160-172 Lord Sheffield Circuit, next to Penrith station and part of the Thornton North Penrith Precinct in “one of Sydney’s fastest-growing regions”.
The modified plans are on exhibition.
Penrith has more than 14,000 low-income households earning less than $886 a week, according to the UPG application, many of whom were heavily reliant on the private rental market where rents had increased “significantly”.
But despite an increase in high-density housing in the area, the developer said in its application, the supply of affordable stock and apartments of two bedrooms and fewer remained “disproportionately low” compared to Greater Sydney.
Under its proposed plans, 76 of the additional apartments would be allocated as affordable, UPG said. This is equivalent to 15 per cent of the gross floor area.
The project would contribute to the “evolution” of Penrith as a “well-connected, sustainable, and inclusive urban hub”.
The approved development application for the site, submitted in 2022, outlined a 10-storey building with 287 units, as well as retail and commercial spaces.
The approved development was subject to a design competition that was won by SJB Architects.
However, since then, the NSW Government introduced policy reforms to incentivise the delivery of affordable housing. Its Infill Affordable housing reforms have proven particularly popular with developers who are now looking to expand existing projects.
UPG is among the latest to take advantage of the reforms and has partnered with EchoRealty NSW, a registered community housing provider, for the proposed modification. EchoRealty NSW would be responsible for the 76 affordable homes in the upscaled project.
The application also details modifications to the design of the facade, internal layouts and minor changes to the podium.
The proposed development wanted to optimise the strategically located site, addressing critical housing supply and affordability challenges, UPG’s application said.
UPG is working on another development at Penrith, a 10-storey mixed-use project dubbed Nabali, which has a National Disability Insurance Scheme-focus and affordable housing, among its other major projects as it expands its Sydney footprint.
