Penrith to receive more high-rise development

June 11, 2018 by  

Residential property developer Toga has submitted plans to Penrith Council for a new 15 storey mixed use tower to be built in the suburb’s High Street.

Called Penway Place, the tower is to be the centrepiece of an extensive redevelopment of the block on which it will stand. The plans include two floors of basement parking, a number of ground level retail spaces, a public plaza, and 81 apartments. This and other housing developments in Penrith likely mean a future uptick in economic activity for the Western Sydney region, leading to extra demand for graphic design and business card printing services.

Toga CEO Fabrizio Perilli has said the $63.5m Penway Place project would be part of the puzzle in reaching rising demand for housing in the area. With Penrith’s population expected to hit 260,000 by 2031, Perilli said the next decade will be ‘exciting times’ for the suburb and that new residents will ‘undoubtedly need access to quality, affordable housing.’

Even more ambitious plans are on the table, with concept drawings for the site showing residential blocks reaching as high as 25 storeys. A spokesman for Penrith Council, which has its chambers directly across from the site on High Street, cautioned that any applications would be subject to building height restrictions.

The plans for Penway Place will go before Sydney West Planning Panel at a future date.