Revealed: Point. B, The Young Group’s $60m development proposed for Bridgewater

A disadvantaged Hobart suburb could be about to receive a massive shot in the arm, with a developer proposing to improve the community through a “transformative” $60m project.

A $60m development proposed for Hobart’s northern suburbs has been described as “transformative”, with the potential to reshape one of the capital’s most disadvantaged areas.

Property development company The Young Group has lodged a development application with the Brighton Council to construct a mixed-use industrial precinct at 115 Cove Hill Rd, Bridgewater, 300m east of the Jordan River.

To be known as Point. B, the 5.5ha site, which was acquired through a competitive state government tender process, is zoned light industrial but it will have multiple uses which the developers say will bring significant benefits to the local community.

Render of new Point. B project by The Young Group. Picture: Supplied

“Developing Point. B is very much a collaborative process between ourselves and the people of Bridgewater,” The Young Group general manager Mark Slater said.

“Point. B is about creating a vibrant new precinct in Bridgewater, generating really significant employment opportunities, and helping to make Bridgewater an even better place to live and work.”

A staged development, the project – designed by national architecture firm Rothelowman – will first establish industrial operations and lay a foundation for future activity on the site, with a focus on key sectors including advanced manufacturing, food and agribusiness, resources and energy, science and technology, and tourism.

Render of new Point. B project by The Young Group. Picture: Supplied

Later stages are anticipated to include a rock climbing centre, a distillery, a brewery, parks and exercise spaces, cafes, restaurants and retail stores.

It’s envisaged the precinct will be open to the public from 6am to 10pm, with people able to utilise it seven days a week.

Upon completion, Point. B is expected to create between 600-800 jobs and $174m worth of additional economic output.

Hoyne, an Australian placemaking company, has been engaged to help The Young Group enhance community life at Bridgewater – and across the Brighton municipality more broadly – through “carefully considered architecture and spaces”.

The Young Group head of development Siobhan Fernantzen said Point. B would be a “major driver” for new investment in the area.

Mark Slater, general manager The Young Group, and Siobhan Fernantzen, head of development The Young Group, at Cambridge, where their office is located. Picture: Nikki Davis-Jones

“This project will not only create a unique destination for locals to work in, it will be an open, safe and welcoming environment for locals and all Tasmanians to explore and enjoy,” she said.

“This project will be a first in Tasmania and we believe it will be transformational.”

Point. B will draw inspiration from interstate developments such as Brisbane business park Rivermakers and Sydney creative hub Precinct 75.

Brighton Mayor Leigh Gray said Point. B still needed to go through various development application processes and meet statutory requirements but he expressed excitement about the “truly innovative concept”.

Leigh Gray, Brighton Mayor. Picture: Nikki Davis-Jones

“It is very unusual to see a development as unique as this, proposed for a greenfields site in Tasmania and it will certainly be the first of its kind in our region,” he said.

“It has the potential to provide a very dynamic not just business but social environment, that is a completely new way of thinking about creating business precincts.”

State Development, Construction and Housing Minister Guy Barnett said the Tasmanian government was “pleased” to see a local business investing in “building communities”.

“We understand this (project) presents a new way to view and engage with industrial areas and congratulate The Young Group for their vision and commitment to this creative precinct,” he said.

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