Be patient — Mac Point too important for Hobart to rush

Site needs much work and managers are right not to grab every chance, explains Don Neil

AT last, there appear to be signs that the Macquarie Point redevelopment project is reaching a stage where, in the not too distant future, we will see a start to construction on this precious piece of publicly owned land the Government is making available.

This project holds immense significance for Hobart and Tasmania.

I am convinced that once it finally gets under way — economic circumstances permitting — development will be as rapid because the very necessary preparatory task has appeared slow.

That’s because the size of the preparatory task is clearly enormous.

I know the extent of the preparation required in getting a major development project off the ground — necessary planning approvals being a dominant factor. However, the challenge of getting a polluted former railyard ready for development as well as the consolidation of multiple land titles under a single title and ownership, is a challenge to daunt the bravest of developers.

The fact the Macquarie Point Development Corporation has completed a large part of the remediation task and finally wrapped-up the diversity of titles and consolidated them under its ownership is a laudable achievement.

Yes of course, it has taken time. But developments as complex as this are inevitably time consuming. And no doubt, there remains a lot of preparatory work still to be completed.

The joint decision by the Government and TasWater to move the wastewater treatment plant is another major undertaking which now appears to be just a matter of time, albeit it took time to resolve. Patience in development is a must — possibly never more so than in the case of Macquarie Point.

I’m not sure the community really understands that the development of Macquarie Point is primarily in the hands of private investors as the funding role of government in the construction stage will be minimal, although there are indications there could be federal funding for the Antarctic and Science Precinct, which hopefully will start the investment ball rolling.

So, by and large what happens at Macquarie Point will depend on the interest it attracts from the private sector. Given Hobart’s current positive economic situation, there is every likelihood of an affirmative response from investors when expressions of interest are eventually invited.

The challenge ahead for the Corporation is to also be patient as well as discerning in its evaluation of proposed projects. While it may be a year or two before investors complete their investigations and preliminary planning, and then start to lodge submissions, the Corporation needs to be resolute in its commitment not to grab the first opportunity that comes along, simply to demonstrate progress. The fallacy of that

approach has been demonstrated in other similar projects in Australia and overseas. Melbourne Docklands is a case in point.

I have three strong convictions about what should and should not be part of the Macquarie Point development.

Firstly, it is my view it must embody the Mona vision, which I consider offers enormous benefits both socially and economically. Its recognition of the First Tasmanians is to be applauded as it will have national and international significance.

Secondly, I do not believe Macquarie Point should become the site of new luxury living for those who can afford it. It should be a precinct that offers a genuine sense of ownership for all Tasmanians.

Finally, Hobart is comparatively short of public open space and therefore substantial green areas should be included for all to enjoy.

While Macquarie Point is not the “perfect” development site, given it has very limited waterfront access, it does border Hobart’s historic waterfront and that will inevitably attract investor interest. But in the case of major developments there are no second chances, so we need to make absolutely sure we get it right the first time. That heavy responsibility rests in the hands of the Development Corporation which, because of the time-consuming nature of the preparatory task, has often been accused of not moving quickly enough. For my money, the speed of development should not be the issue. The quality of development is what counts.

Hobart and Tasmania need a development at Macquarie Point that helps to further lift our economy by creating opportunities through investment. We need a development that also contributes to the social and environmental fabric of our wonderful city. Most of all, we need a development of which we, and future generations, can be genuinely proud.