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The facility will be built at Ngā Puna Wai Sports Hub, which already has a 32ha outdoor sports hub with facilities for athletics, hockey, rugby league and tennis.
Christchurch City Council and Athletics NZ signed an agreement this week to develop the new 20m by 30m indoor throwing and strength training facility.
It has been designed for throwing sports, including shot put, discus and hammer throw, and will house strength and conditioning equipment.
The facility will be located within the athletics zone and is expected to open later this year.
It will provide a place for athletes to train over winter in preparation for the Tokyo Olympic Games which start in July.
Athletics NZ and its partners are investing the total capital cost of $686,000 and will pay for the operational and running costs of the facility.
Additional toilets planned for Ngā Puna Wai will be installed by the city council at the new facility.
Athletics NZ chief executive Peter Pfitzinger said its vision is for New Zealand to become the leading throwing sports nation in the world.
“We are delighted to be working in partnership with Christchurch City Council to develop the indoor throwing and strength training facility at Ngā Puna Wai.
“We are truly grateful to Sport NZ and High Performance Sport NZ for funding construction of this facility, which will support the training of Canterbury throwers, including Olympic medallist Tom Walsh, who is based in Christchurch.”
The facility will cater to elite athletes with dreams of following in Walsh's footsteps, as well as younger sports people who are still developing their skills.
“Having a facility like this will allow Ngā Puna Wai to cater to an even wider range of athletes and allow them to train in all weather conditions," Mr Bailey said.
"It’s focus is on throwing sports but it will have a broader application across other sporting codes and recreation activities.
“It’s another example of the council partnering with sporting organisations for the benefit of our community.”
Ngā Puna Wai was developed by Athletics Canterbury, Canterbury Hockey, Canterbury Rugby League, Tennis Canterbury, Sport Canterbury and the city council.