Launceston Chamber of Commerce executive officer Neil Grose said he was very confident the proposed apartments valued at more than $1 million each would sell.

"Our view as the chamber of commerce is that it is a fantastic development and a fantastic boost of confidence for the city, but what it also highlights is the importance of the Tamar River," he said.

Mr Grose said the proposal proved the river was not just a social asset for Launceston, but also an economical one. Fixing the Tamar must be one of Launceston's priorities over the next few years, he said.

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Mr Grose expects buyers for the units to "come from everywhere".

"Investments like this show the rest of Australia, if not the rest of the world, that there is great confidence in Launceston."

Treasurer Peter Gutwein said this proposal would ensure more Tasmanians could be employed, and would improve the amenity of the city.

"I think this is a fantastic development. It's one that we will obviously look very closely at and work closely with Mr Stewart to bring to fruition," he said.

"What this means for the city is that it just adds to the sweep of investments and attractions that we have in Launceston."

City of Launceston mayor Albert van Zetten said it was fantastic to see significant investment projects proposed for Launceston, and the economic confidence that underpinned them.

"We'll be very interested to learn more about it when a Development Application is lodged and that process begins formally," he said.

Australia Property Council Tasmania executive director Brian Wightman said the council was very supportive of inner-city infill across the state.