Dean Coleman says Macquarie Point Stadium 2.0 has ‘real traction’” after Hobart City Council decision

A major box has been ticked for Macquarie Point Stadium 2.0, as key investors line up to put their money where their mouths are. Latest on the decision which could pave the way for the project.

Concept drawings of a Macquarie Point Stadium which includes an outer shell of apartments, proposed by the Stadia Precinct Consortia. Picture: SolutionsWon

Macquarie Point Stadium 2.0 is a step closer to reality days out from the proponents’ date with the state government to answer key questions on the $2.3b mega-build with key investors now lining up to put their money where their mouths are.

At its meeting on Monday night, Hobart City Council heard from eight Mac2 representatives about the project before going behind closed doors to debate whether or not to grant the land needed at the regatta grounds for building the innovative 23,000 seat, Macquarie Point roofed stadium.

The result was an in-principle agreement to gift the land to create the state-of-the-art stadium with its accompanying 450 apartments, 310 affordable housing beds, private hospital, hotel, convention centre, restaurants and retail spaces.

Concept drawings of a Macquarie Point Stadium which includes an outer shell of apartments, proposed by the Stadia Precinct Consortia. Picture: SolutionsWon

Stadia Precinct boss Dean Coleman said a major box had been ticked.

“The investors are ecstatic that it [acquisition of land] had been received because that was a key milestone,” Coleman said.

“They now have confidence that it is a real project and has real traction.

“We spent December briefing the financial market, national and international markets, on the opportunity.

“There is a significant level of interest from major players now with the council announcement.

“It has effectively solidified that interest and we are ready to get a commitment so that we’ve got the money for the project and we are ready to go to the next level with the government as the preferred partner.’

Concept drawings of a Macquarie Point Stadium which includes an outer shell of apartments, proposed by the Stadia Precinct Consortia. Picture: SolutionsWon

With Stadia Precinct to present its response to the state government about its proposal on Monday, Coleman said the pieces of the puzzle were falling into place.

“It is a very significant move forward because access to land is pivotal to our project,” he said.

“Having council’s support means we can now start the process to have that land transferred so it can be used for the benefit of the Tasmanian people, which is pivotal to us being able to build on that site.”

HCC wants a report “containing qualified advice about the proposal and the request for in-principle support of the disposal of public land”, and that support for Mac2 was “not at the exclusion of any alternative proposals for Regatta Point”.

The “hoops” for Stadia Precinct to jump through were no surprise.

“There is a process that has to be followed, so the conditions that council put on us are exactly what needs to be done for their due diligence,” Coleman said.

“We have been in consultation with the council from a legal perspective for months to work out the processes that have to be followed so we can put together a time-line.

“The whole focus now is to make sure the stadium is under construction, and built, and meets the agreement between Tasmanian government and the AFL.”

In November, the state government asked Stadia Precinct to answer questions such as how Mac2 would be financed, who owns and operates it, environmental impact, how will Mac Point 2.0 enrich the state’s capital.

Those questions will be answered on Monday.