Christchurch City Council has voted in favour of using $220 million for a multi-use arena - with a roof - in the central city.
After a lengthy discussion, the city officials voted to take the money from the Governments $300 million Capital Acceleration Fund.
The Crusaders Super Rugby team are among those who will benefit from the project, after years of enduring their chilly temporary stadium in Addington.
"It's not going to be in my lifetime playing, but awesome to take the kids along to concerts and rugby," Crusaders captain Kieran Read said in June. "It's great to the whole community down there - it's a rugby stadium but it's more than that. It's for the Christchurch community so it'll be great."
The arena renews hope that Christchurch won't again be snubbed for All Blacks Tests and major crowd-pullers like Ed Sheeran.
City officials decided to parcel out the other $80 million of the Capital Acceleration Fund to the Avon Rover Red Zone green spine and to transportation projects.
"We can't afford not to build a stadium," developer Richard Peebles told councillors today, according to Stuff.
He described the decision as a once-in-a-lifetime opportunity.
"If you don't build the multi-purpose arena in the CBD you will have lots more restaurants and bars closing," he said. "We need our engine running smoothly and we need it running well, and our CBD is that engine."
But not all agreed, with protestors calling for the money to be spent on "warm dry homes for our kids".