The council recently confirmed details around the Hapai Commercial Property LP development at 50 Great King St, near the bus hub.
In a statement, the council said the building represented a "significant institutional scale development and investment" by a large collective of iwi and mana whenua, Ōtākou Rūnaka, in Dunedin.
The building’s name, Mataukareao, had been given by Ōtākou Rūnaka, and stemmed from the words matau (hook) and kareao (supplejack), which was recorded as growing on the flat below Hanover and Frederick Sts, the council said.
"Mataukareao was a nohoaka (seasonal occupation site) and tauraka waka (landing place for waka) at the bottom of present-day Hanover St," the council said.
In the council statement, Hāpai Commercial Property general manager Bevan Hames said the commercial office building would have a five-star green rating, which aligned with the shared values of Hapai’s iwi investors.
The building would be six levels in total.
There would be four levels of grade "A" office space, and two levels of car parking available, "some of which is public parking managed by DCC".
"Pacific Radiology will be an anchor tenant, and will bring advanced medical technology to the region."
The building would host the latest in digital PET/CT scanner technology, which was crucial in the diagnosis and management of advanced cancers and other medical conditions.
It would also provide MRI, CT, ultrasound, X-ray and breast-imaging services, the statement said.
Dunedin Mayor Jules Radich said he was pleased with the project.
"The project is strategically positioned to integrate with the city's existing infrastructure, strengthening urban connectivity.
"We’re proud to be part of Mataukareao, which will provide much-needed parking and enhance the amenity of the bus hub area."
The statement said "a major Crown tenant" had recently confirmed they would also be a tenant in the building.
A council spokesman would not name them, referring questions to the developer.
