Sky’s the limit in Penrith

September 26, 2017 by  

Residents of Penrith may soon have the option of living in apartments high above the centre of their city.

Almost two hectares of prime property on Union Road, currently used as a car park, is set to be converted into six apartment towers, ranging between 17 and 34 storeys. Included in the site will be open green areas, commercial and retail space, and childcare facilities.

The initiative is part of the ‘Penrith Progression: A Plan for Action’ which was launched in February 2015, after a year of in-depth consultations with all stakeholders.

To ensure the best mix of business, employment, environmental and social concerns, developers Fraser Property Australia are currently working with city councillors to ensure that the needs of Penrith residents are met in the new venture.

One of the major concerns was the loss of the current 631 parking spaces, but there are plans to increase this by more than 1,000 by incorporating three storeys of free public parking in the new complex, almost tripling the size of the current car park.

Local businesses such as print shops are sure to benefit from the increase in both commercial and residential opportunities, with business card printing and graphic design.

Once final approval has been reached, construction is expected to start within the next two or three years, and will likely continue for another 10 years.