Milieu Property Gets Nod for $100m Hobart Project

Melbourne-based developer Milieu has been selected by the Tasmanian government to deliver a $100-million residential development in an area known as The Escarpment in Hobart’s Macquarie Point.

From submissions made by Tasmanian, national and international firms, the state government selected Milieu’s proposal, citing the proposal’s acknowledgment of the site’s history, Tasmania’s First People’s history, and important links with the Cenotaph.

The Escarpment, behind the Cenotaph, is a 2.7ha site 10 minutes walk from the Hobart CBD.

Milieu will now build a new residential development incorporating a range of uses, including apartments, short-stay accommodation, retail and hospitality on a 8700sq m parcel of land on the site.

Milieu managing director Michael McCormack said the developer was pleased to be working with the state government on the project.

“We are in the early stages of planning,” McComarck said.

“However, we look forward to applying what we’ve learned over the past decade about the importance of responding to the site, and engaging with the community to understand the wants and needs of local residents and key stakeholders of this significant development.

“We view the project as a unique and exciting opportunity to create an integrated residential and mixed-use development that responds to the vibrant culture of Hobart and continues to build on the local economy.”

The development will also be widely accessible to the public, including a rooftop bar and restaurant, a green roof and public open space.

It will also include disability access, from Macquarie Point through to the Cenotaph.

The Escarpment forms part of the second tranche of land sales at the 9.3ha Macquarie Point urban renewal masterplan which includes 50 per cent of the site being devoted to public space.

Remediation of the Macquarie Point site began nearly a decade ago after $45 million in funding from the federal government.

Macquarie Point at various times has been slated for a number of potential developments including Hobart Hospital, a sports stadium and a $2-billion truth and reconciliation park and Aboriginal history centre.

A second land release known as The District is made up of The Gateway, The Promenade and The Underground, the last of which will be a car park.

The state government expects Macquarie Point’s second parcel of land, for The District, to enter its competitive process early in the new year.

Along with the Tasmanian government, Milieu has captured the attention of big players in the market, partnering with Stockland to deliver a townhouse and 150-apartment building on Albert Street at Brunswick on the site of a former timber yard.

Milieu is also working alongside Mirvac to develop 527 build-to-rent units nearby at 395 Albert Street.

The build-to-rent project will have a combination of studio, one-, two- and three-bedroom apartments, and is due for completion in 2024.