This article is from the Australian Property Journal archive
DESANE has lodged a development proposal of more than 270 dwellings with an affordable housing component for a 1.2-hectare site in Penrith, and aims to generate employment opportunities associated with the Nepean health hub.
The ASX-listed group acquired purchased 91 Thornton Drive, around 500 metres from the Penrith CBD, from UrbanGrowth NSW in 2017.
The proposal comes after it lost a protracted legal battle with the state government over the compulsory acquisition of a Rozelle property that Desane had intended to use for a master-planned mixed use development.
Plans for the Penrith site were prepared by Urbis and designed by architects Group GSA.
They include 273 new dwellings, including around 30 “tenure-blind” affordable dwellings; and aim to facilitate 71 knowledge-based local jobs in medical, preventative health and home-based employment areas providing complementary services to the Nepean health precinct.
The six-level Nepean health hub was designed to complement the Penrith hospital precinct and was granted approval earlier this year. Marketing has commenced for spaces of up to 1,250 sqm, available for sale or lease. General practice, specialists, allied health, mental health, diagnostic imaging, dental, pharmacy, research and skin clinic operators are all being targeted.
Desane said consultation with community housing providers highlighted that almost 11,000 additional social and affordable dwellings are required in the Penrith LGA over the next 15 years.
“Government – including local councils – have the opportunity to work with the private market to significantly increase the supply of affordable housing. The ‘tenure-blind’ components a key component of affordable housing as part of this proposal and aims to deliver that to the community,” Desane head of property, Rick Montrone said.
The development will seek activation of the adjacent wetland park and historic Combewood House, and includes sustainability aspects such as green rooftop gardens “aimed at mitigating Penrith’s ‘heat island’ effect”.
Following Council endorsement, Desane expects the proposal will take around 18 months from the date of lodgement to be approved.
