The NSW Government is delivering on another election commitment with Landcom securing a Build to Rent site for the Lismore community.
An agreement has been reached between Landcom and Southern Cross University which will unlock about 4,500m2 of land to deliver 50 new rental homes, with 20 per cent set aside for affordable housing.
The site forms part of the University’s landholding at East Lismore which will see the delivery of more than 400 homes in total.
Build to Rent provides a secure, affordable and accessible housing option for those who wish to rent.
The site sits at the University’s front door, close to shops, sporting facilities, schools, and other community infrastructure. This is an ideal location for its future residents and a hallmark of the NSW Government’s housing reforms which will see people living in areas with existing services.
Through this project, Landcom will facilitate the development of architecturally designed rental housing to be held in single ownership and professionally managed.
Southern Cross University, an integral part of the Lismore community, will sell the land to Landcom for the project, of which Landcom has secured under a call option deed.
Landcom will now complete the design and planning stages in preparation for submission of a development application. Subject to approvals, construction is expected to begin in 2025 with residents to move in in 2026.
For more information, visit Landcom.
Minister for Planning and Public Spaces Paul Scully said:
“The NSW Government committed to trialling a Build to Rent model of housing in both the Northern Rivers and on the South Coast with a view to potentially expanding it to other regional areas.
"This agreement will allow an additional 50 new homes to be added to Lismore, housing up to 110 people.
“Having access to affordable and secure housing can’t be the reserve of the few. Projects like this between Landcom and Southern Cross University take us a step closer to an accessible housing system.
"This announcement continues the Government’s ongoing efforts to support flood recovery and tackle the housing crisis.
“With Southern Cross University and Landcom, we are getting on with the job of delivering much-needed secure rental homes for the community.”
Parliamentary Secretary for Disaster Recovery and Member for Lismore Janelle Saffin said:
“Building rental properties will help address the problem of affordability and homelessness, we have about 0.001 per cent available in the rental market and it's just not affordable.
“Build to Rent housing is an important part of creating more homes to give locals the security of a roof over their heads for themselves and their children. I’m pleased to see Landcom continue its expansion into regional NSW, particularly in the Northern Rivers.
“The Northern Rivers had a housing and rental crisis prior to the floods, and we know that people across our region are desperately struggling to find a place to live, which is why today’s announcement is so important.”
Southern Cross University Vice-Chancellor Professor Tyrone Carlin said:
“Southern Cross University is an important part of the Lismore community, and we want to use our resources to help our city and its community rebuild and revitalise better and more resilient than ever.
“This Build to Rent development will kick start the broader project that we are currently negotiating with Landcom. Having this contract signed today will mean that we are even closer to seeing this land opened up, and to welcoming new residents, including families, students, and university staff.”
Landcom CEO Alex Wendler said:
“Following significant review of land throughout the Northern Rivers, we are now able to move forward to deliver these important rental homes into the community.
“I’m pleased that we have been able to continue and strengthen our relationship with Southern Cross University to deliver much needed housing for the people of the Northern Rivers.
“There is a lot more that we need to do but this is an important step in the process of delivering rental homes by 2026.”
