$473 million joint funding agreement agreed for new Christchurch multi-use arena

Christchurch City Council and the New Zealand Government have formally signed off on a joint funding agreement for the city’s new multi-use arena.

Both parties agreed on today to contribute a total $473 million towards the cost of the new venue, with the Council committing $253 million and the Crown $220 million.

Mayor Lianne Dalziel says the covered stadium is the largest single investment in a community facility in the region, commenting “this will be an arena for Canterbury, and will ensure the region can once again host major events, including concerts and national and international sporting events.

"The Canterbury Multi-Use Arena will be a world-class facility that attracts visitors and revenue from around the country, and will cement Christchurch’s reputation as an attractive, vibrant place to live.

"We now have all the building blocks in place to ensure that we can deliver this project for the people of Canterbury."

The Crown and Council had earlier approved an investment case for the arena, with both parties agreeing to contribute a total $473 million towards the cost of the build.

The investment case stated to attract international and national events, the arena will need to have: a roof for year-round events; a minimum seating capacity of 25,000 (with the potential to add temporary seating for a further 5000 in the future); fixed rectangular turf and high quality acoustics.

Mayor Dalziel added “the investment case put together by the Christchurch City Council shows this project will be a game-changer for the city and we’re very proud to be leading its delivery.”

The council today published a Request for Proposal on the Government’s Electronic Tender Service (GETS) for the design and construction of the arena.

The six-week bid return closes in mid-November.

A company established to manage the construction and delivery of the Arena - CMUA Project Delivery Ltd - has also announced the appointment of three directors to oversee the project.

Christchurch property investor Richard Peebles and Steve Reindler, who has extensive experience in the construction industry, will join Murray Strong on the company’s board.

Strong was appointed as board Chair of CMUA Project Delivery Ltd earlier this year.

Early works on the venue are expected to begin on-site in 2021.

Images shows concepts for the new multi-use arena. Courtesy of Christchurch City Council.