New designs and costings will be prepared for a national convention and entertainment centre in Canberra's central business district, with consultants who can prepare a business case now being sought through an open tender.
The Commonwealth and ACT governments will appoint a specialist consultant to examine the project's scope, costs, benefits, risks and delivery options.
Chief Minister Andrew Barr said the once-in-a-generation infrastructure project would shape the capital's future as a growing, confident and ambitious city.
"This joint investment by the ACT and Australian governments reflects our shared commitment to delivering the infrastructure needed to support economic growth and attract major events," Mr Barr said in a statement on Friday.
"The next phase of work will ensure we have a robust business case and reference design to inform future investment decisions and position the project for delivery."
The federal Infrastructure Minister, Catherine King, said the tender marked the next milestone in advancing one of the Canberra's most significant city-shaping projects and the Commonwealth would contribute $31 million towards the design costs.
"The new national convention and entertainment centre will transform Canberra's city centre and support the growth of the national capital," Ms King said.
The Property Council and the Master Builders welcomed the release of the tender.
"A new convention and entertainment centre is critical infrastructure for a growing national capital. It will help Canberra attract major conferences, exhibitions, entertainment events, and business visitors, creating economic activity that flows through our hotels, restaurants, retailers and tourism operators," Property Council ACT and capital region executive director Ashlee Berry said.
Master Builders ACT chief executive Anna Neelagama said the procurement settings needed to maximise opportunities for local builders and suppliers.
"We have a highly capable local construction industry with the skills, experience and capacity to deliver major infrastructure projects. Local companies should have a genuine opportunity to compete for and participate in this work," Ms Neelagama said.
The ACT government's previous convention centre plan, Australia Forum, did not progress beyond artist impressions before it was scrapped in 2017. A Legislative Assembly committee conducted an inquiry into the demand for a new convention centre in 2017.
The committee recommended the government should finesse the project over a five-year period and look to the private sector for help building the first stage of a new centre.
