Premier Minns visits Lismore as build-to-rent housing project takes shape

NSW Premier Chris Minns was in Lismore today as the state government reaffirmed its commitment to a build-to-rent housing project, with construction expected to be complete later this year.

The East Lismore development is being delivered by Landcom and will include more than 20 per cent of homes set aside as affordable housing for residents on low-to-moderate incomes.

Minns said the project reflected the government’s commitment to accelerating housing delivery while trialing new models to improve rental security.

Planning is also progressing for the adjoining site redevelopment, which will unlock at least 400 additional homes for the Lismore community.

“We’re getting on with the job of building new housing and pioneering an innovative model for the future of housing,” he said.

“Build-to-rent means we can go quicker and we have the finance behind it.

“Four hundred new dwellings, with people relocating from other parts of Lismore, is a big important measure for the town.”

The East Lismore development will offer a mix of floorplans from studios through to three-bedroom apartments, providing greater housing diversity in a community still rebuilding following recent natural disasters.

Residents will be located close to local shops, schools, parklands and Southern Cross University.

Under the build-to-rent model, the state government will retain ownership of the property to provide long-term rental stability, with a specialist operator managing the site.

Planning is also advancing for redevelopment of an adjoining site, which is expected to unlock at least 400 additional homes.

 

A Development Application for Stage 1 of that broader precinct comprising 100 homes is anticipated to be lodged with Lismore City Council before the end of March.

The precinct will include a range of housing options, including lots designed to accommodate homes relocated through the buyback auction program.

“We need to make sure we’re seeing progress on the ground,” Minns said.

“The government has committed the funds for a number of years, but it’s been difficult to get the infrastructure in place to work with the planning authorities to ensure we’re building in the right locations.

“We know we have to get cracking when it comes to new builds and we’re committed to that.”