$240m investment secured for Macquarie Point project in TAS

A new stadium is set to become the centrepiece of a revitalised Macquarie Point in Tasmania as the Australian Government commits $240 million under the 2023-24 Budget towards this significant development. 

This investment will help unlock the potential of the Macquarie Point precinct, securing the site as the next step in building a more vibrant Hobart. 

“The Urban Renewal project has a multi-purpose stadium at its core, which will inspire economic activity around it and strengthen our economy for decades to come. 

“It will be a unique destination to attract visitors to our state, and will finally mean Tassie can host events that have previously bypassed the State. It creates certainty for investment and thousands of new jobs which will give young people a reason to stay in Tasmania,” Premier of Tasmania Jeremy Rockliff said. 

The State Government will develop a refreshed precinct plan that will span from Macquarie Point to crown land at Regatta Point. The plan will include a focus on transport connections and prioritise upgrades to Hobart ports and the delivery of housing for Tasmanians. 

“This exciting precinct plant will provide real affordable housing for Tasmanians, real jobs and new transport solutions. 

“This sets up Macquarie Point as the future jewel in the crown for Hobart. A place where people can live, work and come together,” Prime Minister Anthony Albanese said. 

Source: ABC News

Housing has been recognised as the central part of the precinct development. With this, crown land at Regatta Point is going to be developed – through a public-private partnership and in consultation with stakeholders – to provide a mix of waterfront housing that includes affordable homes and housing for critical health workers and veterans. 

“After a decade of inaction at Macquarie Point, this plan represents a huge opportunity for Tasmania. I’m particularly pleased that housing is a central part of the precinct plan. 

“This will build on the work the Albanese Government is already doing to ensure more Tasmanians have a safe and affordable place to call home,” Federal Housing and Homelessness Minister Julie Collins said. 

The refreshed plan for the project site along with community engagement will guide the development of the project so that it delivers on the priorities of Hobart locals. This will include working with First Nations groups, Hobart City Council and RSL Tasmania to ensure the existing and future uses of the precinct will respect the history of the site and region. 

“The Australian Government is committed to working in partnership with the Tasmanian Government and local councils to revitalise this site in a way that benefits everybody who uses it and wants to be part of it. 

“This site has been dormant for too long and I am pleased that this Federal Government funding will unlock its potential. Negotiations with the Tasmanian Government have ensured that the infrastructure the state needs will be prioritised on the site. 

“These investments are part of our Government’s commitment to creating a sustainable investment framework for our growing cities,” Federal Infrastructure, Transport, Regional Development and Local Government Minister Catherine King said. 

In addition, the Australian Government has also committed $65 million towards the planned redevelopment of the UTAS Stadium in Launceston, further supporting economic activity and the proud sporting legacy of the State’s north. 

Source: Minister for Infrastructure, Transport, Regional Development and Local Government; Prime Minister of Australia – Media; ABC News; 9news.com.au; Council Magazine