East Lismore

The site we have secured in East Lismore is zoned for mixed-use, which permits residential development including mid-rise apartments.

We plan to deliver around 50 build-to-rent apartments, including 20% affordable rental housing, in mid-rise buildings.

The project will demonstrate best practice design and sustainability, and help to provide greater housing choice, affordability and security to address local need.

Subject to approvals, we hope to begin construction in 2025, with keys in doors for tenants in 2026. The rental housing will be managed by a government agency or community housing provider.

We will keep the community and stakeholders informed throughout the planning process.

Build-to-rent housing is designed and built to provide long-term rental homes, rather than sold to homebuyers, providing an alternative to home ownership.

Build-to-rent offers longer leases, often up to five years, which give tenants security of tenure. This helps renters avoid the 12-month “leasing cycle”, which can leave them looking for a new home every year.

Annual rent increases are often locked in upfront, so tenants have financial security and know their rents will not escalate rapidly or unexpectedly.

Because of the longer-term tenancies, often many build-to-rent tenants are allowed to paint walls, hang pictures, keep pets and really set up home. They settle down, make new friends and build a sense of community.

At our East Lismore project, the units will be retained in government ownership and the details of how the housing will be managed will be made available closer to project completion.

Safe, secure and affordable housing is essential to the wellbeing of individuals, the vibrancy of our communities and the productivity of the NSW economy.

At our East Lismore project, 20% of homes will be affordable rental housing.

Affordable rental housing is housing that meets the needs of people on low to moderate incomes, such as essential workers. Rent is priced so tenants can afford other basic living costs such as food, clothing, transport, medical care and education. It is managed in accordance with the rent setting provisions of the NSW Housing Ministerial Guidelines.

Affordable rental housing is usually managed by community housing providers, which are not-for-profit, mission driven organisations who own, develop and maintain rental housing for people on very low, low and moderate incomes who require affordable homes.

Affordable housing is not the same as social housing, which is available to people on very low to low household incomes. This includes those who are struggling to afford rent and are often on the brink of homelessness. Landcom does not provide social housing.

Housing affordability and availability is one of the biggest pressures facing NSW residents, with regional communities like Lismore and the wider Northern Rivers region doing it particularly tough.

The impact of major floods in February and March 2022 on the housing market in Lismore has added further pressure for hard-working people struggling to make ends meet because of rising rents, squeezed incomes and limited availability of homes.

This data provides a snapshot of pre-flood Lismore:

• Around 40% of local rental households are experiencing rental stress, paying more than 30% of household income on rent – this is much higher than the rest of NSW (10.8%).
• Sole person and couple households comprise around 50% of all households in Lismore, but studio and one bedroom homes only account for a small proportion of homes.

There is a mismatch between household type and dwelling size and a significant lack of housing choice for smaller households.

To fill gaps in the housing market there is a need for a better mix of housing with more smaller homes and housing suited to smaller households and mature aged people, given the population is also ageing.

Further, community consultation undertaken by Lismore City Council and Living Lab Northern Rivers has shown there is desire for greater diversity of housing and increased density.

Apartments, like those proposed at our East Lismore build-to-rent project, will help to fill the gap in the housing market and provide people with alternatives to larger, detached houses. Our project will also support construction jobs, boost the supply of local rental housing and help to provide greater housing choice, affordability, and security to address local need.

Sources: Australian Bureau of Statistics, Census Data, 2021 / Lismore Affordable and Diverse Housing Strategy, Lismore City Council, 2023 / Lismore Growth & Realignment Strategy 2022, Lismore City Council, 2022 / Look Ahead: Community Design for Lismore – Community Meetings Summary, Living Lab Northern Rivers, 2023

The build-to-rent properties and tenancies at our East Lismore project will be managed by a government agency or community housing provider. Details will be made available closer to project completion.  

We want to demonstrate best practice design and sustainability.

As part of our project planning we worked with technical specialists to understand site opportunities and constraints to support well-designed development. 

We also consulted Lismore City Council to minimise impacts on local roads, infrastructure, services and the surrounding neighbourhood, and invited community feedback on our plans.  

We will keep neighbours and the community informed about the planning and construction process.

We worked with technical specialists to understand site opportunities and constraints to support well-designed development.

Technical studies cover:

• site access, traffic and parking management
• housing needs
• social infrastructure and needs
• Aboriginal cultural heritage and European heritage
• neighbourhood character
• urban design
• landscape design
• civil engineering
• environmental assessments to understand and manage potential impacts relating to ground conditions, stormwater, views and biodiversity.

With critical need for more housing in the Lismore area, we are working to deliver the build-to-rent project as efficiently as we can.

We worked with technical specialists to understand site opportunities and constraints to support well-designed development. We also consulted Lismore City Council to minimise impacts on local roads, infrastructure, services and the surrounding neighbourhood, and invited community feedback on our plans in mid-2024. 

We submitted a development application (DA24/200) to Lismore City Council in September 2024. 

Our plans seek to balance community and stakeholder feedback with planning controls, feasibility considerations and site investigations. 

Council is publicly exhibiting the application between 11 and 26 September 2024. During this time, the community can submit feedback for Council’s consideration. 

Council will provide their assessment report to the Northern Regional Planning Panel for determination. The Planning Panel is an independent body who make decisions on regionally significant development applications.

We will keep the community informed throughout the planning process.

Subject to approvals, we hope to begin construction in 2025, with keys in doors for tenants in 2026.

Construction will involve:

• earthworks
• installation of services
• construction.

We will work with contractors to minimise potential construction impacts and keep the community informed with timely updates.