Arabic version: الحكومة الفيدرالية توافق على خطط إعادة تطوير نقطة ماكواري
The federal government has endorsed two key plans for the redevelopment of the Macquarie Point precinct in Hobart, marking a significant step forward for the project. According to ABC News, the federal government will commit $240 million for the urban redevelopment, which includes the proposed 23,000-seat stadium.
In a joint statement released today, both the Tasmanian and federal governments confirmed that discussions are underway regarding financial delivery milestones for the project. The federal funding agreement, established in May 2024, requires the inclusion of residential, affordable, and essential worker housing in the redevelopment plans.
Federal Infrastructure Minister Catherine King emphasized the benefits of the precinct, stating it would be “more than a well-deserved home” for Tasmania’s new AFL team, the Tasmania Devils, and would create new housing, improve transport links adjacent to the Hobart CBD, and upgrade the wharves. Tasmanian Macquarie Point Urban Renewal Minister Eric Abetz expressed optimism about the endorsement, signaling readiness for local businesses and tourism operators.
The total cost of the stadium has increased from an initial estimate of $715 million in 2022 to $1.13 billion as of late last year. The Tasmanian government has committed $375 million, while the AFL has pledged an additional $15 million. However, this leaves a funding gap of $490 million, which the state government plans to address through borrowings and potential sales of parts of the Macquarie Point precinct.
The Macquarie Point Development Corporation (MPDC), responsible for overseeing the redevelopment, has released two planning reports. The first outlines the broader precinct development, while the second focuses on the Regatta Point Housing Plan, which includes plans for up to 99 apartments, with a portion designated for health professionals. Despite some criticisms regarding housing delivery, the plans aim to create a vibrant mixed-use precinct in Hobart.
