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$240 million committed for the redevelopment of Macquarie Point stadium and waterfront

The federal and state governments have reached an agreement to allocate $240 million to build a multi-stadium at Macquarie Point in Hobart.

The funding, part of the federal budget, will be spread over three years starting in 2025-2026 and aims to redevelop Hobart’s waterfront area.

The agreement meets a key requirement for the Tasmania Devils’ entry into the AFL and includes a $130 million upgrade to UTAS Stadium, with the costs split equally between the two governments.

Tasmania’s acting Minister for Sport and Events, Nick Duigan, said the “once-in-a-generation” project would help “stimulate economic activity” across the state.

The proposed stadium at Hobart’s Macquarie Point. Image / supplied

“This agreement sets out the terms for the release of the Australian Government’s $240 million funding commitment for the development of the site, leading to millions of dollars in other investment and thousands of jobs,” Duigan said.

“The excitement around Mac Point is growing and it’s easy to see why. This precinct will deliver significant economic, cultural and social benefits for all Tasmanians.”

Anthony Albanese with Jeremy Rockliff and Nic Street in 2023

Prime Minister Anthony Albanese expressed excitement about the development’s potential when he initially announced the funding.

“This exciting district plan will deliver real affordable housing for Tasmanians, real jobs and new transport solutions,” Mr Albanese said.

“This will make Macquarie Point the future jewel 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 toe the line” against the project.

Legislative Council member and former MP Cassy O’Connor at a ‘No Stadium’ rally. Image / Facebook

“A government that puts a huge stadium, which the AFL wants, over housing, health services and schools should be ashamed of itself,” O’Connor said.

“When the Liberals should have argued strongly with the Albanian government for funding to build more houses and better hospitals, they instead spent months begging for money to build their stadium.”

“When they finally reached a deal it was a deal that scared off Tasmanians and now both major parties are on board together.”