“Crowning jewel of Penrith” development’s changes shock Council

Jennifer DukeDecember 7, 2020

A North Penrith development site, called the upcoming “crowning jewel” owned by Parkview, has the council shocked by a suggested approval of changes to the initial plans.

The council told The Western Weekender that the plan was for a site to “book-end” the city of Penrith, and provide a 16-storey hotel as well as 930 dwellings on the site. They had been informed of these intentions in 2008.

The current plan, however, has Masters Home Improvement store and 375 car spaces in the first stage, with stages two to six including 570 residential apartments, retail shops and a tavern, at an estimated capital investment value of $219 million. This was suggested in 2012, which may be good news for renovators in the area, but not so good news for first time buyers.

The State Government has recommended approval of the construction, a stance that is unpopular in local council.

The development area is the former Panasonic site on Station Street – number 164.

Last year, the councilors voted unanimously that they would not approve a new concept design from Parkview Penrith, and then made a submission to the Department of Planning and Infrastructure objecting to the plan.

In 2008, they approved the initial concept plans for the 172,000 square metre site.

The initial high density plans would have provided some housing relief in this lower socio economic area of Sydney.

Over 2012/2013 financial year, Penrith was within the top 12 Sydney LGAs for housing approvals.

jduke@propertyobserver.com.au

Jennifer Duke

Jennifer Duke was a property writer at Property Observer

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