The Federal and state governments have reached an agreement to allocate $240 million for the redevelopment of Macquarie Point in Hobart, paving the way for the future construction of a multi-purpose stadium.
The funding, part of the federal budget, will be spread over three years starting in 2025-26 and aims to redevelop the Hobart waterfront precinct.
The deal sets aside funds for wharf upgrades, housing construction and maintaining public waterfront access.
Tasmania’s Acting Minister for Sport and Events Nick Duigan said the “once-in-a-generation” project would help “drive economic activity” across the entire state.
“This agreement includes the terms for unlocking the Australian Governments $240 million funding commitment for the development of the site, leading to millions of dollars of other investments and thousands of jobs,” Duigan said.
“The excitement is building around Mac Point and it is easy to see why. This precinct is set to deliver significant economic, cultural and social benefits for all Tasmanians.”
Prime Minister Anthony Albanese expressed excitement on the development’s potential when initially announcing the funding.
“This exciting precinct plan will provide real affordable housing for Tasmanians, real jobs and new transport solutions,” Albanese said.
“This sets up Macquarie Point as the future jewel in the crown for Hobart. A place where people can live, work and come together.”
Newly-elected Legislative Council member and former MP Cassy O’Connor said the Greens will continue to “hold the line” against the stadium project proposed for the site.
“A government that puts a massive stadium demanded by the AFL ahead of homes, health services and schools should hang its head in shame,” O’Connor said.
“When the Liberals should have been strongly putting the case to the Albanese Government for funding to build more homes and deliver better hospitals, they instead spent months begging for money to build their stadium.”
“When they finally reached a deal, it was a deal that ripped Tasmanians off and now both the major parties are on board together.”
