The proposed first stage of Hobart’s Midtown streetscape upgrade will be partly funded by the University of Tasmania (UTas) under an agreement to provide voluntary financial contributions towards city infrastructure.
The announcement follows the signing in December 2019 of a 10-year Heads of Agreement, through which the University would pay the equivalent of rates on its central business district (CBD) sites and additional voluntary infrastructure contributions.
Lord Mayor, Anna Reynolds said UTas had shown leadership as a developer and a commitment to the Hobart community by voluntarily contributing funds to public infrastructure.
“UTas is investing in the future of the CBD. The University’s voluntary contributions will help us to create more attractive city streets.
“It’s a win-win for residents and visitors to Hobart, as well as UTas staff and students.
“We hope this collaborative approach to investing in public infrastructure sets a precedent for future developments in the CBD.”
Through the payment of rates equivalency and voluntary developer contributions, UTas will provide a total $1 million over the next two financial years towards the upgrading of Block 1, between Melville and Brisbane streets.
A concept for the upgrade was endorsed by Council in December and includes wider footpaths, plantings, seating and bicycle racks to enhance the busy retail areas.
A detailed design with full costings will be developed in consultation with Midtown traders and other stakeholders and presented to Council for endorsement.
“We’re currently trialling extended footpaths for outdoor dining and an uphill bicycle lane along that block. These will be monitored and assessed over the course of this year and the outcomes will contribute to the final design.
“It’s wonderful that, through our partnership with UTas, we now have the funds to invest in this very important part of our city.”
