Cost of Tasmania’s Stadium Project Blows Out to Nearly $1 Billion

The government said the cost increase was necessary to ensure that the stadium was fit for multi-purposes.

A ship travels on the Derwent River in Hobart, Tasmania, on Oct. 18, 2022. David Gray/AFP via Getty Images

A multi-purpose stadium project with 23,000 seats in Tasmania has been subject to a cost overrun of $230 million (US$149 million).

On May 27, the Tasmanian government released details of a bill to enable the construction of the Macquarie Point Urban Renewal Project—a major redevelopment initiative aimed at transforming a disused waterfront site in Hobart into a vibrant cultural, scientific, residential, commercial, and tourism precinct.