Stadium funding stands between the island state and its AFL licence as the deal hinges on a new roofed venue.
Tasmania's Liberal government has already promised to pay half the bill for the $750 million project and the AFL has committed $15 million, with the federal government, private sector and equity raising potentially covering the rest.
On Thursday, Prime Minister Anthony Albanese and Tasmanian Premier Jeremy Rockliff met to discuss federal funding for the 23,000-seat stadium at Macquarie Point.
Mr Albanese said the talks were constructive and the business plans for the stadium were under review by the relevant federal department.
"This needs to be viewed, though, as how will it transform urban development in that beautiful part of Hobart, in that beautiful state of Tasmania," he told reporters in Sydney.
"We see urban development and city policy as very important and that's the context in which we will examine any proposal," he added.
He said the federal government had already funnelled $50 million into the Macquarie Point site back in 2012 and little progress had been made since.
The stadium proposal does not have universal backing in Tasmania, with both the state Labor opposition and the Greens opposing the project.
The state government claims the stadium will stimulate the local economy and deliver hundreds of ongoing jobs.
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