$1 Billion “Zero Carbon” Precinct For Sydney

Real estate developer Mulpha has announced it will build its Norwest Quarter development in Sydney’s Hills District  to operate as a zero carbon retail and residential precinct.

The firm says apartments in the $1 billion master planned community will consume two-thirds less energy than typical apartments.

“Our goal in developing Norwest Quarter has been to truly deliver a zero carbon precinct, renewably powered with a low environmental impact,” said Mulpha Head of Developments, Tim Spencer.

Among the features of the residential developments.

• Solar panels on the rooftop of each building (capacities not mentioned)
• 100% renewables-based electricity to make up the balance of electricity consumed.
• 100% electric apartments
• EV fast chargers for every building and the capability for each resident to upgrade to an EV charger for their parking space
• Rainwater storage
• Water recycling
• Water efficient fittings
• Double glazing
• Use of non-toxic materials
• Urban heat reduction landscaping.
• On-site organic waste separation and treatment, worm farms and composting

“I believe people will choose to live here for the opportunity to be part of a community, aiming for a better future, with 100 percent electric, no gas, reduced waste, and efficient use of resources including perhaps the most precious of all, clean water,” said Mr. Spencer.

The first stage of Norwest Quarter is comprised of two residential apartment buildings providing 196 apartment homes, retail and commercial space. When completed, the development will be home for 2,000 residents living in the 3.8 hectare footprint, 70% of which will be used for landscaping.

Bar Set High For Commercial Tenants

There’s a stated aim of providing the capability for zero waste living, with Mulpha noting there will be trolleys and containers for residents to utilise at local retailers.

On the commercial side of things, Mulpha says it is seeking tenants “sharing a zero carbon ethos” – which includes sustainable supply chains, ethically sourced goods, and plastic/packaging-free retailing.

The first Norwest Quarter apartments will be launched off-the-plan next month for the 115-apartment Banksia building, followed by the 81-apartment Lacebark building in April.

Discounted Green Mortgage Potential

The company points out buyers of Norwest Quarter apartments could also be eligible for green mortgages that may offer a lower interest rate.

Last year, the Clean Energy Finance Corporation announced home buyers would be able to access discounted green home loan finance. But eligible homes would need to meet or exceed a 7-star Nationwide House Energy Rating Scheme (NatHERS). These loans, being offered through Firstmac, offer a 0.4% discount for the first five years.

Among other  institutions offering green home loans are Gateway Australia, Bank Australia and Regional Australia Bank.

On a related note, there are also discounted loan options for upgrading existing homes with sustainable technologies such as solar power systems. For example, last year we mentioned Commonwealth Bank home loan customers without the up-front cash needed to go solar may be eligible for the bank’s Green Loan. It offers a 0.99% p.a. secured fixed rate loan over 10 years; without any establishment fees, monthly loan service fee or early repayment fees.

Learn more about financing a solar system.