$220 million for the Canterbury Multi-Use Arena.

Click here to see Christchurch Stadium page
At the same time Cabinet has approved the promised $40m for the riverside red zone, and another $40m for roading projects.

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.

Greater Christchurch Regeneration Minister Dr Megan Woods says the approval of the investment cases marks another significant milestone in Christchurch’s regeneration and the transition to local leadership.

Both the Crown and the Council say they want this project to progress as quickly as possible.

The 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.

Given how much Christchurch has missed out on by not having a stadium it can't happen fast enough.

The new arena, which will be built on a Crown-owned block of land between Madras, Barbadoes, Hereford and Tuam streets, is forecast to cost $473 million.

The Council has begun the process of setting up a company to deliver the arena.
The company’s board will be tasked with ensuring that this important project the last of the anchor projects in the Christchurch Central Recovery Plan is completed within project timelines and budget "lets hope that happens as a lot of people believe the city should already have a stadium and 2024 is a long way off".