Stadia Precinct Consortium’s proposed $2.3bn stadium alternative formally rejected

An alternative proposal to build a $2.3bn multi-purpose stadium and community precinct at Regatta Point has officially been rejected by a state government assessment panel.

Mac Point 2.0 Stadium aerial view. Design from Stadia Precinct consortia for the proposed AFL stadium at Macquarie Point Hobart. Picture: Solutions Won

An alternative proposal to build a $2.3bn stadium and community precinct at Regatta Point has been formally rejected by the state government but the proponents say they weren’t given an opportunity to fully present their case.

Stadia Precinct Consortium, led by former premier Paul Lennon and property developer Dean Coleman, submitted a final unsolicited bid for a public-private partnership in June.

But an assessment panel established by the Office of the Coordinator-General has officially dismissed the proposal, determining that it didn’t meet “guiding principals” and therefore wouldn’t proceed further.

Stadium 2.0 concept design. Picture SolutionsWon

A government spokesman said the proponents had been informed of the panel’s decision.

“The Tasmanian government is moving ahead delivering the Macquarie Point Urban Renewal Project,” he said.

“The transformation of Macquarie Point Precinct will shape Tasmania for generations, and unlock decades of economic investment, jobs, and opportunity.”

The ‘Mac Point 2.0’ proposal includes a 23,000-seat multi-purpose stadium with a retractable roof and capacity for future expansion, a site for a private hospital, social and affordable housing, luxury apartments, and retail and hospitality tenancies.

It has the backing of the Hobart City Council and RSL Tasmania, which believes the project would have less impact on the Cenotaph than the government’s own stadium proposal.

$2.3 billion precinct-scale urban renewal project, including roofed AFL stadium, for Hobart. Former premier Paul Lennon and managing director of Stadia Precinct Consortium Dean Coleman at Regatta Point. Picture: Chris Kidd

The government would be expected to provide up to $750m for the stadium component of the proposed development.

Infrastructure developer and financier Capella Capital has been tapped to raise funds and oversee the development of the project.

Mr Coleman said Stadia Precinct Consortium would now “take time to consult stakeholders and consider our options”.

“With full transparency, we note that despite submitting a final bid on June 26 of this year and receiving response from the Tasmanian government that we would be given the opportunity to present to an appointed panel, this has not occurred,” he said.

“We maintain that Mac Point 2.0 is the most logical choice of stadium for Tasmania. The Mac Point 2.0 proposal is fully funded, poses no risk to the Tasmanian taxpayer and will generate an income stream for the state and the Tasmania Devils.”

Mr Coleman said that following “recent setbacks faced by the original [stadium] plan”, a “reevaluation” was needed.

Atrium separating the proposed stadium from the apartments. Stadia Precinct Consortium Project also known as Mac Point 2.0. Picture: SolutionsWon

The AFL’s granting of a licence for a Tasmanian team is conditional on the stadium being located at Macquarie Point.

The government launched a “market sounding process” for its own $775m stadium on Tuesday, as it seeks financiers and private equity firms to help fund the project.

Business, Industry and Resources Minister Eric Abetz has said the Liberals are looking for “opportunities to harness private sector investment and innovation” to help cover the funding shortfall for the stadium.

The Rockliff government has pledged a capped contribution of $375m for the roofed stadium that will host the Tasmania Devils AFL and AFLW home games, while the federal government has promised $240m and the AFL is set to chip in $15m.