Sport and Recreation New Zealand chose to locate the centre in Waipa District after considering bids by Waikato-Bay of Plenty, Palmerston North and Auckland. The proposals to bring the home of cycling to Waipa were backed by Olympic cycling champion Sarah Ulmer, Olympic rowing gold medallist Rob Waddell and former world squash champion Dame Susan Devoy.
The centre will include a world class indoor velodrome and support facilities to be built next to St Peter's School on State Highway One, just outside of Cambridge. The project is forecast to create 120 jobs.
Funding for the centre has come from a number of sources including SPARC, Waikato Regional Council, Waipa District Council, Rotorua District Council, The Lion Foundation, First Sovereign Trust and the Perry Group.
BikeNZ, the national administration for the sport, will be based at the Avantidrome as well as New Zealand's national cycling teams.