Southern Cross University, Landcom and the NSW Reconstruction Authority (RA) have signed an agreement to create a framework for delivery of more than 400 dwellings on University-owned land at East Lismore.
Around 20 per cent of the 72-hectare development on University land is intended for affordable housing, while a number of the serviced lots will be made available for the relocation of existing homes from flood affected areas.
The development will include a diverse mix of low and medium density housing, including serviced lots, and low-rise multi-dwellings.
Vice-Chancellor Professor Tyrone Carlin said the University had partnered with the community since the 2022 floods to rebuild and revitalise Lismore.
“East Lismore is at the University’s front door, close to the CBD, and close to shops, sporting facilities, schools and other community infrastructure – it’s the ideal location for a development such as this.
“Working hard with the NSW Government and our local communities to contribute to the revitalisation and growth of Lismore is core to our purpose and extremely important to Southern Cross University,” he said.
Subject to all of the appropriate approvals, this initiative will be the first major project to be delivered under the Government’s $100 million Resilient Lands Program.
NSW Premier Chris Minns said he was pleased to see progress being made.
“I want to thank Southern Cross University for working with us to increase much needed housing and land in Lismore. We look forward to working with them to create a vibrant new place for people to call home,” he said.
Should the development proceed after intensive due diligence and appropriate approvals are in place, a contribution by the RA of $15 million will enable participants from the Commonwealth and State funded Resilient Homes Program (RHP) to be given priority access to purchase the new land and housing before it’s offered to the broader market.
Landcom will invest $60 million to prepare the site with infrastructure such as new roads, power, water, and sewerage connections.
Detailed design and planning work and formal commercial negotiations will now start.
Landcom intends to commence early enabling works on the East Lismore development site in 2024 with major construction to start in 2025, subject to approvals. On this basis it is expected that land and housing will be available for sale from 2026.