The redevelopment of the Hobart railyards is a once-in-a-hundred-year opportunity to develop a new iconic feature for the city's waterfront, the Minister for Infrastructure, David O'Byrne said today.

Mr O'Byrne said the establishment of the Hobart Waterfront Development Corporation, which will oversee the remediation of the railyards site and the development of the Brooke Street Pier, was an important step in progressing this major project.

"Just look at Docklands in Melbourne or Barangaroo in Sydney - each of these major developments was built with oversight from a similar corporation," he said.

"Given the scope of the project, and its significance to Hobart's iconic waterfront, it's important we get it right, and it's essential we bring the community along with us.

"The establishment of this Corporation was also a precondition of Commonwealth funding, and will ensure that the federal funding package does not impact on GST revenue to Tasmania.

"It's also important to note this body will involve representatives from all tiers of Government, and members of the private sector."

Mr O'Byrne said he was astounded that the Opposition Leader Will Hodgman was prepared to oppose the Corporation, while seeming to know nothing about it.

"This isn't the time for Will Hodgman's 'oppose first, come up with a policy later' approach to development," he said.

"It's a time to work with the community on this exciting development that will be a major feature for Hobart's waterfront for generations to come.

"When we announced this funding, there was broad support for both the development of the railyards and this new Corporation, and Will Hodgman has again demonstrated he's prepared to ignore the interests of stakeholders in favour of a cheap point-scoring exercise.

"If Mr Hodgman were genuinely interested in seeing an iconic new feature for Hobart, he'd stop trying to make shallow and simplistic comments on this development and would instead look to the exciting benefits this opportunity creates."