First Stage of Flood-Free Lismore Masterplan Revealed
The first stage of a masterplan for a 400-home Landcom development at East Lismore has gone public, four years after flooding claimed five lives and left 2000 people homeless.
The project on a 72ha site will be delivered with the NSW Reconstruction Authority. The first stage proposes about 100 homes.
Smaller and more affordable housing options have been prioritised for the 5ha first stage, including terraces of two to four bedrooms, and lowrise apartments of two or three bedrooms. Ten lots are dedicated to the relocation of buyback homes from floodprone areas.
Indicative price guides range from $425,000 for a 91sq m terrace to $700,000 for a 130sq m terrace, and from $500,000 for a 75sq m apartment to $850,000 for a 109sq m apartment.
Buyback home prices range from $300,000 for a 450sq m lot, to $950,000 including relocation and refurbishment services. More than 800 flood-damaged homes have been bought by the NSWRA, with 118 offered for auction in 2025. Sale prices have ranged from $1 to $200,000.
The plan, open for comments until February 16, calls for setbacks from flood-prone and protected vegetation areas, slow-traffic streets to promote pedestrian and cycling activity, and possible nature trails.
Landcom is also developing a $30-million, 50-unit build-to-rent apartment complex on the north-west side of the site.
Construction started in November 2025 and is expected to complete this year.
That project will allocate 20 per cent of its apartments as affordable homes, while the broader masterplan will include at least a 20 per cent affordable component.
At least $75 million of Landcom funding will go towards the masterplanned community, with NSWRA contributing $15 million towards the cost of land and enabling infrastructure. The site was purchased from Southern Cross University in August 2025.
To date, the Commonwealth and NSW governments have allocated $880 million towards the Resilient Homes Program that is overseeing the residential component of the post-flood buildback, with the NSW government putting another $100 million into the Resilient Lands Program.
NSWRA executive director Graham Kennett said that the development was a cornerstone of the Resilient Lands Program and “demonstrates how we are working to move people out of harm’s way while keeping them within their community”.
“By planning for more than 400 resilient homes, we are creating a neighbourhood designed for long-term safety, liveability and affordability,” Kennett said.
After the exhibition, a DA is expected to be lodged with the Lismore City Council. Homes are expected to be offered for sale by the middle of this year ahead of groundbreaking in late 2026.
In December, Landcom secured approval for a $236-million, 220-home development on a former WestConnex dive site, close to Sydney’s RPA Hospital, that will be dedicated to essential workers.
The government developer is also planning a 1500-home precinct at 607 Pacific Highway at Chatswood, which is expected to begin construction in late 2026, and a 1300-home project in Bella Vista at 13-23 Mawson Avenue and 42 Balmoral Road.
