Chief Minister Andrew Barr has written to Prime Minister Anthony Albanese to request a 50-50 funding agreement for the development of the precinct.

The territory also requested in the same letter to Mr Albanese a funding deal for a new stadium in Bruce.

Mr Barr revealed more than a year ago the pool site, which has long been at the centre of debate over a city stadium, was being considered an indoor venue that could attract larger touring music acts and host some sports fixtures.

But the government appeared to cool on the proposal, flagging instead it was considering other sites along Constitution Avenue for the music venue.

Now the territory government has pitched a revamped convention centre and indoor pavilion to the federal government, seeking 50-50 funding.

"The ACT proposes co-funding from the Australian government to progress a new entertainment and convention precinct in Canberra's city centre," a spokeswoman for Mr Barr said.

"A new precinct combining multi-use venues including a convention centre and a multi-purpose indoor entertainment pavilion will support economic growth and tourism by attracting larger scale and simultaneous conference and live music and performance events to Canberra.

"All of which will see consistent week-by-week and year-round utilisation which will further support the city and local businesses, particularly the hospitality sector."

Finance Minister Katy Gallagher, the ACT's Labor senator and a former territory chief minister, on Monday said the federal government was working closely with the territory on the ACT's infrastructure priorities.

"We've already secured the future of Australia's national institutions, we're investing in a new National Security Office Precinct in Canberra, we're helping fund the extension of light rail, and we're rebuilding the Australian Public Service," Senator Gallagher said after The Canberra Times revealed the ACT had sought a 50-50 funding deal for a new stadium.

"We'll consider further investments in the ACT in the usual way through our decision-making processes."

The government's entertainment, arts and sports infrastructure plan update estimates the total cost of an indoor entertainment pavilion to be between $100 million and $250 million.

"To be built in the city centre, it will incorporate an outdoor plaza with food and beverage offerings for year-round enjoyment of patrons and local Canberrans. Colocation with a new Convention Centre would allow staged investment in event, convention and performance capacity in the city," the plan said.

The government expects construction of the pavilion to start by 2026-27, the plan said.

A new convention centre would cost more than $500 million, with funding likely to be considered sometime in the next decade.

The government's preferred location for the precinct includes the current Convention Centre site and the Civic Pool block on the opposite side of Constitution Avenue.

"Similar to the request made for a health, education and sporting precinct in Bruce, the ACT government is seeking co-funding in the upcoming federal budget to expedite planning and approval for these projects to enable them to be placed in the forward infrastructure pipeline and delivered in line with the entertainment arts and sports infrastructure plan released last year," Mr Barr's spokeswoman said.

The spokeswoman said the joint funding proposal was in line with the federal government's urban precincts and partnerships program which is set up to back "transformative investment in urban Australia based on the principles of unifying urban spaces, growing economies and serving communities".

The funding request has been made under the National Capital Investment Framework, which was announced by Mr Albanese and Mr Barr at the 2023 ACT Labor conference

"This is about us working together to create new jobs, build new infrastructure and ensure that Australia's capital is as modern, vibrant and strong as the nation it serves," Mr Albanese said at the time.