The proposed development will consist of 121 multi-dwelling townhouses in Riverstone, a rural residential suburb located 48 kilometres north west of the Sydney CBD.
Riverstone is positioned within the Blacktown City Council and has a rich history as one of Australia’s oldest towns and was originally settled back in 1803 as a government stock farm. Today, the area is set to become a thriving hub and falls within the Riverstone Precinct of the North Western Sydney Growth Corridor—a NSW Government strategy to develop new homes and essential infrastructure, including new schools and upgrades to major roads to meet community needs.
The proposed development is well positioned to local amenities including the Riverstone Railway Station (1.3km), Woolworths Schofields Precinct (2km), the M7 motorway (10km) and the Norwest Business Park (15kms).
The purpose of the Syndicate-Fund is to assist with the refinance of an existing land debt facility; and subdivision of 128-132 Railway Terrace, Riverstone, NSW to create three super lots consisting of two residential lots and one public road lot; and the construction of a 121 multi-dwelling housing development consisting of 101 two-storey townhouses in Lot 1 and 20 two-storey townhouses in Lot 2.
Estimated development progress as at 22 February 2021