But first there's a $750,000 feasibility study, which Prime Minister Anthony Albanese's new Labor government has committed to.

Capitals general manager Lucille Bailie said it was really positive news for the WNBL powerhouse, with the four- to eight-court stadium potentially able to seat up to 5000 fans for home games on the University of Canberra campus.

Not only would it provide the Capitals with a dedicated training venue, but it would also solve their home court issues.

The closure of the AIS Arena since the start of the pandemic meant they were forced to play their WNBL finals games at Tuggeranong - a venue with a much smaller capacity than the 5000 they cram into the AIS.

Labor also committed to getting the AIS Arena back online after two years in the sporting wilderness.

Bailie hoped once the feasibility study was complete it wouldn't take long to build their new home, which would cost $50 million to $70 million and could take as little as two to three years.

"It cannot come quickly enough for the UC Caps ... I know the vice-chancellor's spoken about it. It needs to happen tomorrow," she said.

"The feasibility study needs to happen as soon as possible. The land is there. The space is identified. It's then a case of lining up the contractors and just getting it done.

"I would hope we would see it within two to three years, if not sooner, because we know the Caps make a habit of playing in championships and finals."

She said the second stage of the university's proposed sports hub, following on from the first stage that relocated Super Rugby Pacific team ACT Brumbies there, would also be a massive benefit to the Canberra community.

The massive shortage of indoor sporting venues has reached crisis levels, with The Canberra Times last year revealing how desperate things were.

MORE CANBERRA CAPITALS NEWS:

Not only would it help ease that problem, it would also provide a learning hub for UC's students in fields like sports science.

UC has been planning the second stage for years, but a lack of federal funding has seen it repeatedly put on the backburner.

But now with a new federal government Canberra has re-emerged as a location for projects after years of neglect.

The feasibility study will also look into the other original aspects of the second stage, which included the possibility of a boutique soccer stadium as well.

"Really positive. A step in the right direction for the UC Caps' program, but it's so much bigger than just the UC Caps," Bailie said.

"The feasibility study is a step in the right direction for the Caps, but also community basketball. The plan is that it will be an extra four to eight courts. It'll host 5000 people.

"We know the supply of courts and facilities is not meeting the current demand.

"So it'll be a new home for the Caps. It'll be new courts desperately needed for future Caps and local players."

We've made it a whole lot easier for you to have your say. Our new comment platform requires only one log-in to access articles and to join the discussion on The Canberra Times website. Find out how to register so you can enjoy civil, friendly and engaging discussions. See our moderation policy here.

Our journalists work hard to provide local, up-to-date news to the community. This is how you can continue to access our trusted content: