Multimillion-dollar plans to create a booming commercial sector on the bank of the Nepean River are one step closer to becoming a reality, after the NSW Planning Department made major changes to zoning in an effort to increase employment land for the state-of-the-art employment hub.
The $613 million plan to expand employment land at a 47 hectare near the Penrith Lakes by Precinct Capital also includes a masterplan for walking tracks, extending the Great River Walk.
Planning Minister Rob Stokes said a series of zoning changes, which include the expansion of employment land be 13 hectares, would provide certainty for the site's future and benefit the environment and the community.
“These proposed changes are the next stage of the transformation of an old sand quarry into a vibrant commercial and recreational destination,” Mr Stokes told the Penrith Press. "These amendments demonstrate the Government's commitment to providing certainty for businesses during the COVID-19 pandemic and put them in a position of strength once we're on the other side of the crisis."
Jobs, Investment, Tourism and Western Sydney Minister Stuart Ayres said the proposal would spave the way for thousands of jobs on the doorstep of Western Sydney residents". "The future Nepean Business Park will enable the creation of nearly 18,450 direct and indirect jobs and inject nearly $2 billion into the economy as well as great public space for the community to enjoy, including pedestrian and cycleways and wetlands," he said. If approved, these changes will allow for development applications to progress to rehabilitate the site, safeguard it against flooding and subdivide the land, with construction of the building premises likely to begin within the next two years. The exhibition of the masterplan for the Penrith site comes as Precinct Capital spokesman Dylan Baudinet said construction companies and individuals looking for work saw the development inundated with inquiries. “This important first step puts us on track for the creation of the $2 billion Nepean Business Park which will create more than 18,000 jobs,” he said. "Our project is fully funded and this well-timed news from Minister Stokes gives us some certainty while we await the remaining planning approvals in the order to deliver the $2 Billion project, thousands of new jobs and a major new community asset with an extension to the Great River Walk.”The proposed amendments are on exhibition until Monday, May 11. For more information and to provide your feedback visit www.planning.nsw.gov.au/penrithlakes
This article was originally published in The Daily Telegraph.