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The 19th century Italianate-style building opened in 1883, and is the oldest masonry theatre in New Zealand.

It was badly damaged in the 2011 earthquakes, with Environment Canterbury buying the category 1 heritage building in 2020, on an 'as is, where is’ basis.

The auditorium and rear section of the Odeon Theatre was demolished in 2015 due to safety concerns.
ECan called for public feedback last year, on what should happen to the historic building, but a decision on its future is yet to be made.

Repairs to the road and surrounding footpaths are expected to be completed by March, allowing the path and second traffic lane in Tuam St to re-open.