Four major projects across the City of Launceston will be brought forward after the state government approved the council’s application for a $20 million interest-free loan.
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Pending planning approval, the council will use $9 million to build a car park on part of the CH Smith site off Canal Street in the CBD.
The Brisbane Street Mall redevelopment will also be fast-tracked at a cost of $5.8 million and works worth $4.2 million on St John Street will be accelerated.
A $500,000 upgrade to the Cataract Gorge will see improvements to paths, lighting and fencing, as well as a redevelopment of the playground to reduce the impact of flooding.
The loan scheme is part of the state government’s $100 million Northern Economic Stimulus package.
Treasurer Peter Gutwein said the loan would help stimulate the northern economy ahead of the UTAS redevelopment at Inveresk.
“Cataract Gorge is a favourite place for locals and a drawcard for visitors and the government’s investment will see planned upgrades finished two years ahead of schedule with work set to begin within weeks and completed by July this year,” he said.
“The St John Street redevelopment will see one of Launceston’s busiest streets completely upgraded and the bus stops improved.
“Construction works will begin in July and run for about a year, with the project finished 18 months ahead of schedule.”
Deputy mayor Rob Soward said the Brisbane Street Mall regeneration would breathe new life into Launceston’s CBD.
“These accelerated projects of course come in addition to our existing 2016-17 $20 million capital works program, as well as in addition to various major projects already scheduled to get underway,” he said.
“[This includes] the $9 million North Bank redevelopment, the major redevelopment of Civic Square, the redevelopment and repurposing of Macquarie House, the second-stage upgrade of the Seaport Boardwalk, and the $260 million University of Tasmania relocation.”