The woman in charge of a multi-million dollar project to develop Hobart's waterfront has stepped down, less than two weeks after it was revealed the project's operations were subject to a review. 

Macquarie Point Development Corporation chief executive Mary Massina will leave the organisation on July 16 after five years at the helm. 

The move was announced by Premier Jeremy Rockliff and State Development Minister Guy Barnett in a press release early Monday. 

The statement said Ms Massina had advised the State Growth Department Secretary that "a fresh set of eyes will help take the development through the next phase".

"The Tasmanian government recognises the very significant contribution Ms Massina has made in leading the Macquarie Point development through the highly challenging planning and remediation stage," the statement said.

The independent review, commissioned by the corporation's chairman Brian Scullin, follows allegations of staff bullying and inappropriate spending raised in state parliament by independent MP Kristie Johnston. 

In their press release, Mr Rockliff and Mr Barnett said a separate workplace grievance investigation, understood to relate to bullying allegations, had cleared Ms Massina. 

The Macquarie Point development has been dogged by concerns over a lack of progress in recent years, despite the tens of millions of dollars in taxpayer funds poured into it. 

In April, it was revealed that the corporation had spent $700,000 on a bike path — only for half of it to be demolished for remediation works about two years later.

The government said it would shortly begin searching for Ms Massina's replacement. 

Tourism Industry Council of Tasmania chief executive Luke Martin is pushing for an independent review of the entire Macquarie Point strategy and development program to take place before a new chief executive is appointed. 

Mr Martin said that should include considering the suitability of Macquarie Point for a new stadium. 

Ms Massina, who was on a package worth $280,000 last year, will finish up with the corporation on July 16.