FEDERAL funding for a major waterfront precinct, which includes a stadium home for the Tasmania Devils, has been formally locked in.
The Australian government on Thursday said it had accepted the master plan and housing plan for Macquarie Point in Hobart, cementing its $240 mil funding pledge.
A $1.13 billion 23,000-seat roofed stadium will be built at the site, the major condition of Tasmania entering the AFL and AFLW in 2028.
The contentious stadium passed a do-or-die hurdle in December, when it was approved by Tasmania's parliament.
Master plans for the area feature housing, including affordable homes, as well as public plazas and hospitality spaces.
The precinct will also maintain the transport connectivity and port operations supporting Hobart’s freight, logistics and Antarctic research activities.
"Macquarie Point will become a world-class, year-round destination for Tasmanians and bring a significant boost to the state’s tourism sector," federal Infrastructure Minister Catherine King said.
"The precinct will be more than a well-deserved home for the Devils - it will create new housing, improve transport links adjacent to the Hobart CBD and upgrade the wharves."
The plans satisfy the final non-financial milestones under the funding agreement, with discussions underway on financial delivery milestones.
Prime Minister Anthony Albanese pledged the federal funding in 2023 on a visit to Macquarie Point which has been home to a sewage works.
As part of negotiations to get the stadium through parliament, the Tasmanian government said it would cap its contribution at $875 million.
It was recently revealed the stadium wouldn't be ready to host fixtures until 2031, despite initial hopes it would be ready in 2029.
The Devils made their debut in the second-tier VFL on Saturday, earning a win in front of a 10,000-strong sold-out suburban crowd.
