The Tasmanian Government has announced it will “fast-track” the delivery of the Macquarie Point Multipurpose Stadium by ruling out private sector partnerships and implementing a ‘design and construct’ model to be funded via Government borrowing.
It says the decision follows a market sounding exercise, which sought feedback on the procurement and delivery options available for the Macquarie Point Precinct.
“Feedback from the market sounding process was crucial in understanding how to activate the precinct in a way that unlocks decades of economic investment, jobs and opportunities,” said Minister for Business, Industry and Resources, Eric Abetz.
“The decision to prioritise the delivery of the multipurpose stadium through a ‘design and construct’ pathway provides certainty and confidence in the future of the Precinct and the Tasmania Devils AFL Club.”
Construction of the stadium will be funded through debt raised by the Macquarie Point Development Corporation, along with the $630 million already committed by the AFL and Federal and State Governments. The stadium is expected to cost between $775 and $900 million.
“While there was strong interest in a public-private partnership model to deliver the stadium and broader precinct, it would cost the taxpayer more, take longer to implement and take away from the asset being owned by and for the Tasmanian people,” said Mr Abetz.
“We cannot afford any delays if we are to meet existing timeframes set out in the AFL agreement. Without a stadium, there is no Tasmanian AFL Team,” Minister Abetz said.
The wider activation of the Macquarie Point precinct will take shape as the multipurpose stadium progresses through construction, he said.
“Activation will occur through the staged release of commercial development opportunities to attract the right investments, at the right time, and to maximise the potential returns for Tasmanians.”
“The transformation of Macquarie Point will shape Tasmania for generations and I know many will be excited by the prospect of being involved,” Minister Abetz said.
A procurement process for the stadium will commence following the passage of enabling legislation through Parliament.
