In a single destination, the multi-functional arena will cater for a range of activities, particularly large-scale local, national and international events.
The multi-use arena will host a range of activities, including various sporting events, entertainment, concerts, trade shows, conferences, exhibitions, festivals, and community activities.
With its state-of-the-art design, the arena will be a leading venue for in New Zealand. It will also attract new events, boosting the local economy and increasing tourism in the region.
The Council has committed funding of $253 million in its Long Term Plan to the Multi-Use Arena and fast-tracked this funding by two years to 2020/21.
The Government has committed a $300 million Christchurch Regeneration Acceleration Facility to progress key regeneration activities in the city, and work towards transitioning projects and decision-making back to local leadership. The Council has asked that $220 million of this fund is allocated to the multi-use arena.
An Investment Case is now being developed to submit to the Crown to support this proposal. Once funding is approved it would mean the Crown’s investment would total $306.7 million – which is made up of $220 million from the Christchurch Regeneration Acceleration Facility and $86.7 million spent to purchase the land.
It is too early to have a conversation regarding options around funding, including whether contributions from other Councils might be required, or whether private investment is being sought, until the Government has confirmed the allocation, the Investment Case is complete and we have an agreed scope for the multi-use arena to be built.