The consortium, which is the city council’s chosen delivery partner, will now start work in the autumn on phase one of the wider Butetown regeneration scheme.
Outline plans for the broader masterplan were also approved allowing detailed applications to be submitted for up to 890 homes; 1090 hotel bed spaces; 19,500 sq m of offices; 27,500 sq m of leisure floorspace and 12,310 sq m of retail.
Cardiff cabinet member for Investment and Development, Russell Goodway, said: “The new indoor arena will be a top UK visitor attraction and act as a catalyst for further investment in Cardiff Bay.
“The financial benefits that it will bring to Butetown and the wider area will be significant with up to 2,000 jobs needed during the construction phase and a further 1,000 jobs created once the Atlantic Wharf masterplan is delivered.
“The Atlantic Wharf masterplan will see significant improvements made to the public realm and to public transport links to the Bay. The importance of the new arena cannot be understated, it will kick-start the next phase of regeneration in Cardiff Bay.”
With Robertson Group as developers and Live Nation and Oak View Group as joint operators, the arena will offer Cardiff the opportunity to host some of the biggest names in the entertainment industry whilst attracting millions of visitors to the city and generating wider local economic activity for hotels, restaurants, and bars.
Atlantic Wharf plan
Phase 1: Construction starts on the arena and hotel in spring 2022, with completion in time for doors opening in 2025. This phase also includes building a multi-storey car park to replace the lost surface parking.
Phase 2: Businesses in the Red Dragon Centre will be relocated so works can start on a purpose-built facility to accommodate leisure, food and drink amenities. Plans include a new cultural centre incorporating the Wales Millennium Centre production space, potentially a National Art Gallery, and a ‘This is Wales’ fly-through visitor attraction.
Phase 3: A new 150,000 m2 office space delivered along with a 150-bed, four-star hotel.
Phase 4: A new neighbourhood delivering new homes and potential for retail and office space – this phase is dependent on relocation of the County Hall to a new, purpose-built building.