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Launceston City Deal must deliver leverage

A significant milestone has been achieved today with the signing of the Launceston City Deal – only the second City Deal to have been completed nationwide.

The Property Council of Australia welcomed the agreement.  Tasmanian Executive Director Brian Wightman said the Deal presented huge opportunities for Northern Tasmania and he reiterated the Property Council’s long-held view that the Deal must be leveraged to support continuous economic growth.

“The Property Council supports City Deals, particularly when they highlight the capacity for all three levels of government to collaborate successfully.

“City Deals must provide a platform for private sector investment and be used to deliver confidence, jobs, and opportunities for aspirational Tasmanians,” he said.

The Tasmanian Division acknowledged the centrepiece of the Deal - the  move of the University’s Launceston campus from Newnham to Inveresk.

“Investment in the University of Tasmania will deliver property and construction jobs for several years.

“But the long-term benefit of this investment will reside in the cultural change that these cutting-edge learning environments will facilitate -  greater uptake of post compulsory learning,” Mr Wightman said.

The Property Council is also encouraged by the focus on inner-city residential opportunities which it believes will create vibrancy and diversity.

“Launceston and Northern Tasmania require population growth, and for that to occur, the economy must continue to improve at better than national rates.  There must also be a range of improved housing and accommodation options made available, with this development and investment underpinned by growth in the education sector.

“More domestic, first time, and international students are just the tonic we require for Launceston to be considered an enviable university city,” he said.

Mr Wightman said he was also pleased that the health of the Tamar was being considered.  He noted however that further significant funding would be required to complete major infrastructure projects such as improving the water quality of the Tamar River.

“Any money spent on the health of the Tamar River Estuary is welcomed, however a growing and aspirational city must have compliant water and sewerage infrastructure,” he said.

The Property Council looks forward with keen anticipation to the economic benefits accruing from the Launceston City Deal and to the roll out of further City Deals in Burnie, Devonport and Hobart.