This article is from the Australian Property Journal archive
CEFC is backing Mulpha’s sustainable residential development, Norwest Quarter, with an $80 million green loan, to be matched by ANZ.
Stage 1 of Norwest Quarter in Sydney’s Hills district is set to deliver 196 net zero-ready apartments that will be powered by 100 per cent renewable energy with an all-electric and gas-free design and consume 50% less electricity from the grid.
“As one of Australia’s first masterplanned urban precincts to incorporate sustainable aspects from the design stage, Norwest Quarter residents will be able to reap the benefits of the buildings and reduce their carbon footprints into the future,” said Ian Learmonth, CEO at CEFC.
“We all want to cut our energy costs, whether in businesses or at home. By reducing the energy used by our homes, appliances and vehicles and switching to renewables we can make a sustainable change to how energy is used across the towns and cities of Australia.”
The apartments will also boast an average 7-star NatHERS rating, enabling significant water savings and reducing waste to landfill by more than 50%.
“Renewables are one of the lowest cost forms of energy and are a great place to cut energy costs and reduce our carbon output. Sustainable high density residential buildings have a leading role to play in the future of our cities and are particularly relevant to growing areas like north-western Sydney,” added Learmonth.
The two Smart Design Studio and Bates Smart-designed apartment towers will also include energy efficient appliances, LED lighting, induction cooktops, efficient plumbing fixtures and heat pump hot water systems.
With these additions set to reduce future residents’ grid reliance, minimise their carbon footprints and enable a 25% cut to household bills each year.
“Norwest Quarter is an ambitious development that has innovated by taking a holistic approach to optimise sustainability at every level of the building process. We need to lock in this approach to all new and existing buildings as we target net zero emissions,” said Learmonth.
Norwest Quarter is part of the broader Norwest precinct being developed by Mulpha, which will include expansive landscaped open space to reduce urban heat reduction, alongside 3,000sqm of retail space.
The precinct will also provide electric vehicle charging infrastructure, solar rooftops and the use of low emission building materials, in addition to features that support the circular economy such as recycled water for toilets and onsite organic waste treatment.
“Mulpha Australia is very pleased to have structured the facility with the CEFC and ANZ to have met internationally recognised Green Loan Principles. Being able to partner with these financial groups in the delivery of one of Australia’s first ever, zero emission urban precincts is an exciting achievement,” said Greg Shaw, CEO at Mulpha Australia.
ANZ is also matching CEFC $80 million green loan.
“ANZ is pleased to be involved as Sustainability Coordinator for the financing framework associated with this project, structuring the facility as a Green Loan,” said Jo Scotney.
“This is an excellent project to be involved in as we’ve worked with Mulpha to help develop their inaugural Sustainable Finance Framework, which aims to help accelerate Mulpha’s sustainable developments and strategy.”
