This article is from the Australian Property Journal archive
THE NSW government is fast tracking the assessments of 19 projects worth $4.7 billion, including a 5000-home land release and developer Mulpha’s $1 billion Norwest masterplanned proposal for 864 residential apartments across nine high-rise towers.
Mulpha’s The Greens at 40 Solent Circuit, Norwest, has been fast tracked for gazettal by the Department of Planning, Industry and Environment this week, with a DA to be lodged for the first stage.
Located within 500 metres walking distance to Norwest Station, The Greens mixed-use residential community in Norwest Business Park will also provide 6,000 sqm of retail and business space for cafes, restaurants, neighbourhood shops, gym, medical, childcare and other facilities.
Mulpha has also committed to a Voluntary Planning Agreement (VPA) contributing $20.74 million towards local community infrastructure. Developments executive general manager Tim Spencer said The Greens will provide a continuous stream of work for construction workers in the medium to long term, with the first stage of 200 apartments expected to generate some 470 jobs, a small step towards supporting the State’s economic recovery.
Spencer said Mulpha is setting the bar high in Norwest to create a highly sustainable and vibrant economic hub for future generations.
NSW Premier Gladys Berejiklian said the NSW Government’s Planning System Acceleration Program is on track to reach its target of creating opportunities for 30,000 jobs in half the time originally anticipated.
Yesterday the government had a further 19 planning projects assessments fast-tracked through the program which will deliver a $4.7 billion investment and create almost 15,000 jobs.
Projects in the third tranche of the program include an over-station development at Sydney Metro Victoria Cross, a new solar farm, a new school in Camden, affordable housing in Gosford, and a land release in Yass Valley that will allow more than 5000 new homes to be built.
The government also fast-tracked two revitalised town centres including the $326 million for Villawood Town Centre and $173.9 million Fairfield Heights Town Centre, and approved four major rezonings in Fairfield, Villawood, Harris Park and Silverwater, which will deliver more than 2000 new homes..
Planning Minister Rob Stokes said getting shovel-ready projects out the door as fast as possible is helping NSW rebound from the COVID-19 pandemic.
To date, 48 major projects have had their assessments finalised through the program, which has created opportunities for more than 25,000 jobs, $13 billion in economic benefit, more than 8000 new homes and more than two million sqm of open space, parks and land for environmental conservation.
“The COVID-19 pandemic has generated a shift in economic activity to our suburbs and local centres as more people work from home and avoid commuting into traditional city CBDs,” Stokes said. “These new town centres seek to create and reinvigorate the existing retail and street frontages, unlocking the potential of our high streets and encouraging the creation of local economies across Western Sydney closer to where people live.”
