The incremental progress was confirmed yesterday by Dunedin Venues Management Ltd when it announced the sale of the 1000th lounge membership to Otago rugby stalwart Laurie Mains.
The membership sales, together with other packages and sponsorship deals, have helped lift private sector funding to $33.4 million, up from $31 million in April and edging closer to the private sector target of $45.5 million.
The lounge memberships - costing $1500 plus GST each year for five years, with a right of renewal for a further five years - gave buyers a seat for all scheduled events and access to the stadium's members-only lounge.
About 1850 memberships are for sale and the number purchased had been creeping up steadily since 2008, with 248 sold by November 2008 and 630 by February last year.
Yesterday, DVML chief executive David Davies said he was encouraged by "relatively steady" interest in the products, which was coming from across Otago, including smaller centres like Balclutha and Lawrence.
"You are seeing a number of companies taking these up in groups, as well as those people who can afford to buy $1500 worth of access," he said.
The funding total was up from $31 million in April this year, when a stadium stakeholders' report to the Dunedin City Council said private sector funding could total $56.2 million if all seating products were sold.
Mr Davies said yesterday he expected about 1600 of the lounge memberships would be sold by the time the stadium opened next year, and all 1850 were likely to be gone by the start of the 2012 rugby season.
The money would be received by DVML three months before the stadium was due to open on August 1 next year, before being funnelled to council coffers and used to cover both capital and operating costs associated with the stadium, he said.
Mr Davies said he expected interest in membership packages would dip again as Christmas approached, but would improve when site access was opened up as construction neared completion next year.
"We will gain access to the venue and be able to show people where their seat will be," he said.
Mr Davies also insisted it was "coincidental" Mr Mains - a former Otago, All Blacks and Highlanders coach - and his business, GJ Gardner Homes Otago, had been named as the 1000th buyer.
"We have been talking to him for some time," Mr Davies said.
Mr Mains said in a statement he was "delighted" to be part of the stadium's funding milestone, and the membership access would be used by his company's staff and customers.