Advocates for more housing development in Tasmania are celebrating the sale of a huge Hobart CBD site. It's seen as a once in a generation opportunity to shape the inner city. But the site's seller has not committed to redeveloping the old k-and-d hardware store area into a housing development.
00:05The KND site represents a unique once in a generation opportunity for the city to control what is built on an entire city block.
00:15The 11,000 square metre site between Murray and Harrington streets in the Hobart CBD is owned by the University of Tasmania which paid 30 million dollars for it in 2019.
00:27But last year the University axed its plan to turn the site into a mix of retail, commercial and university spaces.
00:35It was put back on the market a few weeks ago.
00:38The site is zoned as commercial with options for building up to six stories high.
00:43Well there's lots of options available for a site of that size.
00:46It would be a really really good location for a mixed use proposal where you've got retail and office and commercial space at the ground and maybe first level and then you've got dwellings above that.
00:56The community group Yes In My Backyard Hobart, which advocates for more housing development, says the site should be turned into housing.
01:05Hobart has a real shortage of affordable medium density housing and this seems to us to be a golden opportunity to redevelop this site.
01:15The Hobart Council is willing to support the idea.
01:18And we can play a role in waiving rates, we can play a role in waiving fees, we can play a role in waiving other sort of planning restrictions that add to the cost of the development.
01:30The development sector isn't really able to fund and kick those projects off the ground because there's a lack of demonstrated market demand and we need state and federal based funding to help incentivise those projects and effectively de-risk them.
01:45The university says it recognises the significance of the site and the potential it holds to enhance the city, but it has not placed conditions on the sale requiring the buyer to include housing in any development on the site.
01:58We cannot squander this opportunity and leave it to the private sector to build another big box store, car yard or even single storey development.
02:08Expressions of interest for the site close at the end of this month.
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