Tasmanian Government establishes Hobart Waterfront Development Corporation

THE Tasmanian Government last week announced the establishment of the Hobart Waterfront Development Corporation to oversee the remediation of the Macquarie Point railyards site and the development of the Brooke Street Pier.

Infrastructure Minister David O'Byrne said the redevelopment of the railyards is a once-in-a-hundred-year opportunity to develop a new iconic feature for the city's waterfront and that the establishment of the new corporation is an important step in progressing the project.

Mr O'Byrne said Melbourne's Docklands precinct and Sydney's Barangaroo project are similarly being developed with oversight from a similar corporation.

"Given the scope of the project, and its significance to Hobart's iconic waterfront, it's important we get it right, and it's essential we bring the community along with us," the Minister said.

"The establishment of this Corporation was also a precondition of Commonwealth funding, and will ensure that the federal funding package does not impact on GST revenue to Tasmania."

Mr O'Byrne said the Corporation will involve representatives from all tiers of government, and members of the private sector.

Last month, Federal Infrastructure and Transport Minister Anthony Albanese announced $50 million in funding to remediate the 8.4 hectare railyards site for future development.

In May, as part of the Federal Government's $20 million Liveable Cities program, $110,000 was allocated to the Tasmanian Department of Economic Development to undertake a major economic study into the potential and future use of the Macquarie Point railyards.

The study will examine aspects including the economic potential for the site and the potential for affordable housing.

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