Mayor Steve Krieg's acquisition of the Rous Hotel will see Lismore's nightlife get a much needed boost, transforming the run down pub into a complex that boasts a restaurant, cafe and bar.
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It will be the third time in the pub's history that it has undergone major changes.
The premise was originally the home of the Courthouse Hotel, a staple watering-hole for Lismore locals from the late 1800s up until it was burnt down in the 1950s.
In 1959, it gained a second chance, it was rebuilt and named the Rous Hotel until disaster struck again when it was damaged in the floods.
A tumultuous turn of events indeed. However, Mr Krieg has a plan to rebuild the pub and boost Lismore's nightlife.
The decision to buy the hotel, had been on his mind for some time.
"From where I was operating my business, I could look out the window everyday and see this building sitting there not cared for and not loved... and I put the offer in and they accepted," he said.
The first stage of the development is up and running with La Barraca reopening on the premise earlier this week. However, Mr Krieg wants to expand the business to help rejuvenate Lismore's night life.
The vision for the hotel is to transform it into a steakhouse and wine and whisky bar. There is also a plan to turn the front room into a live music and piano bar down the track.
"It certainly is a massive investment, but I hope it encourages and inspires other people to invest in Lismore."
One of the problems that Lismore faces, is that residents and patrons go to the coastal suburbs for nights out.
"We want to change that," Mr Krieg said.
"Between the new look La Barraca, The Metropole and Marry G's, and the number of restaurants that are back up and operating, we want people to stay in Lismore and even people from the coast to come here," he said.
Not only has the coast taken away from Lismore's nightlife, but it went through a bit of a rough patch 10 years ago after a bout incidents in the CBD led to a crackdown on licensing.
"That was warranted," Mr Krieg said, "but it had a big impact on the local nightlife. Things have moved on drastically since then. Our demographics, populations have certainly changed and shifted.
"People want to get out, have a good night, have a nice meal, a few drinks and watch some live music or a comedy show. Bringing all these things back to Lismore is extremely important.
"Lismore used to have an active nightlife and speaking with other venue operators we want to get it back there."
With the steakhouse set to open this year and the wine and whisky bar to follow, Lismore's nightlife is looking good.