Freelance journalist Carmen Cita bought into the project in October last year, thinking the $339,000 two-bedroom villa would be a dream purchase.

"At the time I thought it was all secure," she said.

"I wanted to buy my first home, I thought it would be a good investment.

"It was attractive because it was affordable and it was in a neighbourhood that I thought would gentrify in the long term."

But the purchase has given her nothing but grief, with work stalled on the site for several months and the vendors asking to extend the contract's time limit.

Some of the homes appear to be all but complete, while construction on others is still in the early stages.

Ms Cita was originally told her villa would be finished by March 30 this year but her solicitor received a request to extend the contract's "sunset clause" for another six months.

The 39-year-old agreed to the extension, believing the project was nearly complete.

Seven months later, she's still no closer to moving in.

Last week, Ms Cita was advised that the vendors, Railway Land Holdings Pty Ltd, owned by Mr Strom, were rescinding her contract because a strata plan for the site had not been registered.

She has since tried to contact Elders Real Estate, which sold her the villa, for more information, to no avail.

"They've just been non-responsive," she said.

"They won't return my calls - every time I ring, I'm told to leave a message and someone will get back to me."

Mr Strom secured finance for the 15 residential villas, worth $5.8 million, early last year.

The project was touted as affordable townhouses, targeted at first home buyers.

In April, the construction union described the project as a "mess", amid legal proceedings being launched by two subcontractors over alleged unpaid debts.

Union branch official Mick Lane said he had been called in to ensure contractors did not start work on the site while others were waiting to be paid.

Since then, no work has been done, he said.

At least one buyer has already backed out of the development.

A two-bedroom villa on the site is up for sale on the Elders Real Estate website for $369,000 and is advertised as "soon to be completed".

Ms Cita, who works in Sydney, moved back to the Illawarra in March when she believed her property was near completion.

She has been forced to live with her family in Russell Vale and commute while she waits to see what happens.

"I've been living in limbo; it's just a nightmare," she said.

She is hoping to talk to other people who have bought into the development before she makes a decision about whether to opt out for good.

"I just want to know if the other buyers want to push forward with the project or if they're considering pulling out," she said.

The Mercury contacted Elders and was referred to director Lou Niceski for comment.

He did not return calls.

The Mercury contacted Mr Strom for comment.