More affordable and secure rentals are a step closer for the Northern Rivers with the construction of 50 new build-to-rent units underway in East Lismore.
The NSW Government says the homes will help to ease housing pressure in the region which has been grappling with increasing rental stress for years, further exacerbated by major floods.
It says that while around half of Lismore is made up of single or two person households there is currently a lack of smaller home options available to suit their needs. This development will help adjust the balance, boosting housing diversity, by delivering a range of apartments from studios up to three bedrooms to suit different renters needs, said Minister for Planning and Public Spaces, Paul Scully.
“This project will help provide greater housing security and choice for renters in Lismore, delivering 50 new build to rent units which bolster both housing supply and diversity,” said Mr Scully.
“As one of the first ever build to rent projects outside a major city this development will test a new housing type for regional areas that could be rolled out in other parts of the state.”
The new homes – 20% of which will be designated affordable housing – will be located close to shops, services, schools, Southern Cross University, open space and other community infrastructure.
The project is being delivered by the NSW Government’s property and land developer, Landcom who has appointed regionally based construction company FK Gardner & Sons as Head Contractor to lead the construction.
“We are delighted to be supporting the NSW Government & Landcom to deliver this much needed accommodation solution in the Northern Rivers,” said FKG Managing Director, Nick Gardner.
“We look forward to partnering with the local supply chain to maximise opportunities to be involved in the project and deliver a high-quality outcome for the region,” he said.
“Build to rent housing is a great example of Landcom’s commitment to making homes happen. We’re thrilled to announce the start of construction on this site, a step closer to getting people into homes,” said Landcom Executive General Manager Development, Tasha Burrell.
Construction is expected to be completed in late 2026, pending weather conditions
The Government will retain ownership of the build to rent property once complete.
For more information about Lismore please visit Landcom.
