"We have a chance to create something eclectic and special in the East and as an organisation we're looking forward to moving things forward."
Ms Pearce said the business association was taking a lead role in the redevelopment of the Eastern block which had faced many challenges in recent years including the lack of progress on The Albert Hotel site, which had been a key issue to securing new tenants and investment.
"We are finally gaining traction in the eastern blocks and it's fantastic to see landlords starting to invest in their buildings on this side of town. The old Power Board building is being converted into offices with APN relocating around 90 staff.
"Strengthening works are about to commence on the old WINZ building and are expected to be completed by the end of the year."
She said after many months of uncertainty, the Hastings cinema was also set to reopen soon.