Stockland enters PDA with Western Sydney Uni to deliver mixed use precinct

Stockland has entered into a Project Delivery Agreement with Western Sydney University to develop the Werrington sites of the University’s Penrith campus, creating a thriving, mixed-use precinct which will serve the local community.

The proposed masterplan by Stockland and the University is a combined vision which will transform the campus land into a world-class precinct. It will leverage Stockland’s capability to create future-focused communities comprising the best of Australia’s commercial, residential, retail and knowledge sectors.

Located five kilometres from the Penrith CBD, the 99-hectare site offers the opportunity to create a six star green star urban neighbourhood with a large town centre that is firmly integrated with the existing campus facilities. The proposed development will feature new housing, more than 18 hectares of open space, and a lively cultural, arts and heritage precinct.

Importantly, the project includes the creation of a ‘living laboratory’ for education, research and innovation, social connection, sustainability and exploration – helping to create a community where people work, live, play and connect in new ways.

Stockland Managing Director and CEO Tarun Gupta said: “In partnership with Western Sydney University, this unique project aligns with our strategy and will enable us to bring to life a thriving community in a well-connected urban infill location.”

Mr Gupta continued: “The existing health and education infrastructure in the surrounding Penrith Quarter precinct provides strong fundamentals for asset creation and management, and the masterplan will allow us to respond to the evolving market demand over time.

“With our shared vision to create a ‘destination for discovery’ underpinned by leading urban design and world class sustainability principles, we are excited by the opportunity to be part of this growing precinct’s success and look forward to progressing plans with the University, local authorities and relevant stakeholders.”

The project is part of the University’s ‘Western Growth’ strategy – an ambitious program that is reshaping the University’s campus network and co-creating cities and transformative educational infrastructure across Western Sydney. This is being done in partnership with industry and government, and is fostering deep engagement with our local communities.

Vice-Chancellor and President, Professor Barney Glover AO, said Western Sydney University has a proud history of delivering high-quality educational opportunities and world-class research expertise for the people of Western Sydney, and is pleased to partner with Stockland to bring this ambitious vision for the campus to life.

“This exciting partnership with Stockland is set to transform the site, bringing the University into the town centre and further strengthening our connections and engagement with business, industry and local communities. New housing, retail, commercial and social spaces will also help support the growing population, providing much-needed amenities and enhancing the liveability, productivity and sustainability of the surrounding neighbourhood, said Professor Glover.

“This is a significant initiative that is about securing the University’s future as a world-class institution and its long-term financial sustainability. Developing our non-core land allows us to reinvest the proceeds back into the University so we can fund new innovations in teaching and learning, build on our research strengths, and initiate projects that can further strengthen the student experience.”

The development of the site is subject to a rezoning and planning approval process, which Stockland plans to commence in 2022. This will involve working collaboratively with Penrith Council, relevant State agencies, Western Sydney University and the community to progress the planning proposal to deliver the vision for the site.