The council paid $2.5 million for the Red House at Takapūneke which will be incorporated into a reserve.
The council held an extraordinary meeting yesterday to consider purchasing the property before it goes to auction next week, but made its final decision behind closed doors.
In 1830, the Takapūneke rangatira was lured onto a British ship and later killed by Te Rauparaha, who then slaughtered many at the once-thriving Ngāi Tahu commercial centre.
The site was considered sacred by the iwi after the 1830 massacre so out of respect for their tūpuna they avoided the area for over 100 years.
This event resulted in the beginning of the Crown's involvement in Aotearoa New Zealand's affairs.
William Green and his family landed their cattle at Takapūneke in 1839 and the built the first Red House the same year.
The original home burnt down in 1888, the house which is currently on the market was built in 1924.
Christchurch Mayor Lianne Dalziel Reserve said the council was working towards having the site acknowledged as being as significant as the Waitangi Treaty Grounds.
