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America's Cup boat Black Magic will form the centrepiece of a $8.9 million Sir Peter Blake memorial in Auckland's Viaduct harbour.
The new building housing "Blue Water Black Magic - A Tribute to Peter Blake" will replace part of the NZ National Maritime Museum, at the northern end of Hobson Wharf in the Viaduct Harbour.
Black Magic, or NZL32, led by Sir Peter defeated Stars and Stripes in 1995 in San Diego. It was gifted to Te Papa by Team NZ.
The boat will be suspended in the Hall of Yachting and the accompanying exhibition will surround the yacht on three levels.
The Maritime Museum said the full cost of the building and exhibition - designed by architect Pete Bossley - had been met through grants, sponsorship and individual tender.
Chairman Alastair Aitken said construction work was expected to begin in July.
"We are well progressed with working plans to enable us to secure a building consent and we've already obtained all our resource consents," he said.
"We expect to call for tenders in May and commence work around July this year."
Sir Peter's wife, Pippa, said part of the project's appeal was the encouragement it would give young people to work towards their own goals, through learning about her husband's achievements.
"Peter's positive outlook was infectious; people were attracted to him because he was confident and passionate about what he did," she said.
"This tribute to him captures the essence of those attributes and I have no doubt it will be a lasting source of inspiration for generations to come."
Sir Peter was murdered by "pirates" - thieves who robbed visiting vessels - while on board the ship Tara on the Amazon in 2001.
Prime Minister Helen Clark said the new exhibition was a "fitting tribute to a great New Zealander".
"The tribute honours the memory of Sir Peter Blake and places him in the context of the wonderful story of New Zealand yachting and innovative yacht design as a living and evolving exhibition."
Helen Clark said it would teach young people "about leadership and taking risks in order to achieve goals".
The Government committed initial core funding of $2.5 million for the project, alongside $2 million from Auckland City Council.
Mayor John Banks said the exhibition was a wonderful addition to Auckland's waterfront and would benefit residents and visitors to the city.
- NZHERALD STAFF
