Apollo Projects chief executive Peter Beggs presented the keys to Waitaki District Mayor Mel Tavendale at a short ceremony at the events centre.
Mrs Tavendale said the district council was incredibly pleased to see phase one of the project near completion.
"This project can be whatever we dream it to be.
"It’s really just about how do we look for the opportunities to utilise it well? The more it’s used, the better for our community."
Waitaki Event Centre Trust chairman Kevin Malcolm said the trust was also "exceptionally happy".
"What we’ve achieved is above the expectations that we had at the start.
"The product is sensational, the support has been sensational and we’ve just got to let our imagination run wild with what we can actually do in here."
The trust visited almost a dozen similar indoor sporting facilities around the country to get an idea of what was needed.
"[We] picked up the good, the bad and the ugly out of them and tried to make the very best for North Otago within our budget, so it’s exciting."
The centre cost "just under $31.5m" to build, he said.
"We had a budget of $32.85m so we’re close to $1.5m under budget.
"You’ve got to also appreciate that within that budget, we’ve actually upped the specifications on quite a few different bits and pieces.
"We’ve added to the council area, to the administration area, we’ve added the ability for this to become the civil defence emergency centre."
Mr Malcolm said the trust was almost two-thirds of the way to funding the $6m needed for phase two of the project — the grandstand.
Doug Hurst, who along with his wife Donna pledged $5m to the project in 2021, said it was great to see the community rally behind the fundraising efforts and make the event centre possible.
"After Donna and I kick-started the contributions, North Otago residents and businesses really jumped on board.
"From a personal point of view, it has been highly satisfying and rewarding to be part of this venture."
The centre will be officially opened on May 10.
