The revitalisation of this long-neglected stretch of the North Esk riverfront not only compliments the Launceston Seaport precinct but encourages further redevelopment of underutilised industrial land.

It was $6 million in federal government funding secured by former Bass MHR Andrew Nikolic in 2013 that underpins the Riverbend Park project. Another $3 million came from the state government and City of Launceston council.

All this work and private sector development is injecting millions of dollars into Launceston's economy as well as providing hundreds of jobs and flow-on benefits to the wider business community.

It also renews an important part of Launceston's industrial and commercial history.

Errol Stewart's Silos Hotel has turned a redundant structure into a fine addition to Launceston's accommodation market.

Mr Stewart's vision for this project started a decade ago and over the past two years, he has spent $25 million bringing it to fruition.

Like his Seaport development, it is symbolic of the transition of Launceston's economy from manufacturing to tourism and service industries.

The relocation of the National Automobile Museum of Tasmania, across the street from the Silos Hotel, adds to the repurposing of the area.

The new museum, with nearly 2000 square metres of display space, is expected to cost about $5 million when finished.

Mr Stewart's $50 million Kings Wharf Towers apartment proposal for the derelict southern end of Kings Wharf has the potential to take the renewal of Launceston's riverfront even further.

Like the Launceston Seaport, the once bustling Kings Wharf area is an important part of Launceston's maritime history.

Before Kings Wharf was built the North Esk River was the transport hub of Northern Tasmania and in the 1800s there were wharves lining both sides of the river.

At times dozens of ships, from small coastal traders to clipper ships from England, would be moored in the North Esk.

After World War I, when Kings Wharf was built, the focus of shipping in Launceston shifted to Home Reach.

When you look at Kings Wharf today it's hard to believe that for 40 years it was a major passenger and cargo terminal for Bass Strait ferries and ships that traded far and wide. And the once bustling industrial area behind Kings Wharf also has great historic significance for Launceston.

In 1900 William Coogan built Australia's largest furniture factory there and in the 1920s it was home to the Kelsall and Kemp woollen mill, the Rapson tyre factory, timber mills and other industries.

The Holyman shipping company was based in Launceston with its vessels regular visitors to Kings Wharf.

Launceston's role as a major shipping port ended in the 1960s with changes to shipping and manufacturing.

Finding new uses for this part of Launceston can only improve our city.

Of course, redevelopment of this part of Launceston would not be viable without the recent rebuilding of the city's system of flood levees and the management of siltation.

Again federal, state and local government funding has made addressing these issues possible.

The citizens of Launceston have always lived with the threat of major, destructive floods, particularly after the loss of life and damage in the 1929 disaster.

In the 1950s planning started on a network of flood levees to protect lower-lying parts of the city and they were completed in the 1960s.

By the turn of the century, however, it was found that they needed major improvement works. In 2006, the Federal and State governments and the City of Launceston council agreed to jointly fund rebuilding the levees to provide protection for a one in a 200-year flood.

When the work was completed it had cost nearly $60 million. The new levees received a major test with a big flood in 2016.

As it became clear that the flood levees needed extending in Newstead the federal government immediately pledged funds.

The redevelopment of the Seaport and Kings Wharf areas for public recreation and commercial development helps us remember the people and commercial activity that helped build our city.

And if evidence is needed of the social value this project brings to our community you only have to look at the new pedestrian bridge linking the Seaport boardwalk with Riverbend Park. It is a wonderful and eye-catching addition to the area.

Even before work on the Riverbend Park recreational facilities has finished hundreds of people every day are taking advantage of the bridge to access walking and cycling paths along our river edges. Riverbend Park is the sort of project that I, along with my federal Liberal colleagues, will continue to support and lobby strongly for in Canberra.

Riverbend Park started as an idea and with the support of strategic government funding is becoming a reality.