Crown approves Christchurch stadium funding

Monday, 2 March 2020

An artist impression of inside the new Christchurch stadium. The plan is for a 25,000 seat facility with a clear roof costing $473 million.

Government has approved its funding contribution for Christchurch's new stadium.

Cabinet has signed off in its promised $220 million share of the $473m stadium cost after considering the city council's business case for the project. The other $253m will be funded by council.

Several buildings on land proposed for the Christchurch's new stadium were demolished in 2020 to make way for the multi-use arena. (Video first published February 2020)

At the same time Cabinet has approved the promised $40m for the riverside red zone, and another $40m for roading projects as outlined in the 2018 Budget.

The funds are part of the $300m which the Labour party offered for Christchurch regeneration projects in the lead-up to the 2017 election to fulfil a cost sharing agreement.

**READ MORE:

An artist's impression of the new stadium, which will seat 25,000 people.

* Christchurch stadium plan approved by council, next step Cabinet

* Christchurch stadium: How much ratepayers will contribute

Artist impressions of inside the new Christchurch stadium, to be funded jointy by Crown and council.

* Christchurch's $473m stadium plan revealed: 25,000 seats, finished in 5 years

* Christchurch stadium plan facing funding shortfall of up $60m**

The plan is for a roofed 25,000-seat stadium between Madras, Barbadoes, Hereford and Tuam sts.

It would be able to hold up to 36,000 people for concerts with a standing area. Another 5000 temporary seats could be added in the future, if funding for them was found.

Greater Christchurch Regeneration minister Megan Woods, said approving the stadium investment case 'demonstrates a strong signal the Crown has confidence in the project and its importance to regeneration.

'The arena, once completed, will spark and develop business confidence and growth by drawing people into the central city.'

An initial $6m from the Crown will go towards early enabling works on the site.

'Meanwhile, we'll continue to work with the council on funding and other details of the whole regeneration project,' Woods said.

Christchurch mayor Lianne Dalziel said they would push ahead with site investigation work and removing old underground services so the contractor could 'hit the ground running', once appointed.

'Our goal is to get construction under way next year so the arena can open in 2024, allowing Christchurch to reclaim its position as New Zealand's sporting and cultural capital,' Dalziel said.

The chosen stadium option would cost $333m to build and $104.9m to run over 30 years, of which $92.7m would be funded by stadium income, with an annual $4.2m council top-up. The land has been bought by the Crown for a yet-undisclosed price.

City councillors approved the stadium investment case on December 12 for Cabinet to consider. It is hoped the stadium could be completed by the second half of 2024.