Launceston's Princess Theatre Redevelopment Budget Rises to $43 Million
Launceston City Council announced a budget increase for the Princess Theatre redevelopment from $30 million to $43 million, with $12.7 million funded by the federal government. Mayor Matthew Garwood stated the increase is not a cost blowout, citing initial estimates and additional expenses. The project aims to meet contemporary safety and performance standards and is expected to be completed by 2028. The Launceston Chamber of Commerce expressed concerns over the lack of public communication regarding the budget increase.
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The Launceston City Council disclosed that the redevelopment of the Princess Theatre will cost $43 million, an increase from the initial estimate of $30 million, with $12.7 million sourced from the federal government. Mayor Matthew Garwood defended the increase, indicating it was due to further expenses encountered, such as relocating a power substation.
The project aims to restore the theatre to modern standards, with traffic changes implemented from this week. Critics, including the Launceston Chamber of Commerce, expressed concerns about the timing of the announcement and potential further cost increases as the project progresses, expected to conclude in 2028.
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