Hobart's Macquarie Point developers admit consultations 'unduly long'

The group overseeing the development of Hobart's Macquarie Point site has admitted it has spent too long consulting.

An independent audit, conducted for the Macquarie Point Corporation, found excessive consultation had led to unrealistic expectations for the former rail yards.

In a letter to stakeholders, signed by chief executive Liz Jack and chairman Mark Ryan, the corporation acknowledged that the process was "unduly long".

Ideas floated for the 8.6 hectare site include a hotel, a housing development, convention centre and campus for the University of Tasmania.

Hobart Lord Mayor Sue Hickey said she expected the corporation to spell out its vision for the site soon.

"It's such a big site and there's lots and lots of possibilities for it," Cr Hickey said.

"I think people will be disappointed if they don't get their point of view, but these people, that is the board, have been charged with doing the greatest good with the site."

Cr Hickey said the council was eager to see some progress with the site.

"I am very hopeful that two years of consultation is enough and they are on the verge of having conversations with people who can actually do something on the site.

"I'm hoping that they've got very close to having their vision fully articulated and they're just about ready to launch that out."

Property Council of Australia's Tasmanian executive director Brian Wightman said he hoped the group overseeing the development would reveal more details of its plans.

Mr Wightman said it was difficult to strike the right balance between adequate consultation and timely decision making.

"In the end you can consult for a very long time and not make a decision," he said.

"What needs to happen is you make that consultation thorough and then arrive at the position and I believe the Tasmanian community feels it has been consulted with and it's now time for action."