Macquarie Point to be revitalised with Government Co-investments

A once in a generation vision for Hobart’s last remaining waterfront and urban development site will be realised, under a partnership between the Australian and Tasmanian Governments.

A Federal Government investment of $240 million under the 2023-24 Budget, will help unlock the potential of the Macquarie Point precinct, cementing the site as the next step in building a more vibrant Hobart.

The Tasmanian Government will develop a refreshed precinct plan that stretches from Macquarie Point through to crown land at Regatta Point, including a focus on transport connections, while prioritising Hobart port upgrades and housing for Tasmanians.
 
Housing is recognised as a central part of the broader precinct. In consultation with stakeholders, crown land at Regatta Point will be developed through a public-private partnership, delivering a mix of waterfront housing, including affordable homes and housing for critical health workers and veterans.
 
A refreshed plan for the site and engagement with the community, will guide the project so it delivers on the priorities of the Hobart locals. This includes working with First Nations groups, Hobart City Council and RSL Tasmania to ensure all existing and proposed uses respect the history of the site and region.
 
The Australian Government will also invest $65 million towards the planned UTAS Stadium redevelopment in Launceston, supporting economic activity and the proud sporting legacy of Tasmania’s north.
 
Australian Government funding in the site supports existing investments in Macquarie Point by the Tasmanian Government of $375 million and UTAS Stadium of $65 million.
 
Quotes attributable to Prime Minister Anthony Albanese:
 
“This exciting precinct plan 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.”
 
Quotes attributable to the Premier of Tasmania, Jeremy Rockliff:
 
"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."
 
Comments attributable to Federal Infrastructure, Transport, Regional Development and Local Government Minister Catherine King:
 
“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.”
 
Comments attributable to Federal Housing and Homelessness Minister Julie Collins:
 
“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.”