Tasmania

EOI process begins for Hobart's Macquarie Point development

THE Tasmanian Government last week said the project to transform Macquarie Point has taken another step forward, after the Macquarie Point Development Corporation commenced advertising for its Expression of Interest process for development of the 9.3 hectare site.

The process of selecting appropriate developers is expected to take around 12 months, with development scheduled to begin in 2017.

Part of the Macquarie Point Masterplan
Above: Part of the Macquarie Point Masterplan / Macquarie Point Development Corporation.

Since taking over the site in August last year, the Macquarie Point Development Corporation has worked to implement a masterplan, outline a process for site remediation and begin site works to make the area ready for development in 2017.

Potential developers will be able to register to participate in the EOI process from 16 December 2015, and will have until the end of March 2016 to lodge their EOI, before it is assessed by an expert, independent evaluation panel.

Proposals will need to be consistent with the objectives of the Macquarie Point masterplan, have a positive impact on the broader Hobart environment, complement—and not compete with—the surrounding area and the Hobart CBD, and be distinctive as well as respectful of the city's historic architectural fabric.

Developers will be asked to show, among other things, the broad concept of their development proposal and details of their credentials and financial standing.

In May 2016, successful EOI applicants will then be asked to submit a formal Request for Proposal, which will involve the proponent preparing a detailed proposal and business case. From there, the best proposals will be selected and final agreements will be negotiated prior to a development commencing.

Each project will be critically evaluated based on its merits in terms of environmental and social impacts, the integrity of its design and amenity, and its economic and financial value.

The corporation is hopeful the final developments will be selected in December 2016, with work on the first projects commencing in 2017.

Any development will be subject to the normal planning processes.

More information is available from the Macquarie Point website at <http://macquariepoint.com/>.

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