Bristol City Council has scrapped plans to build a new arena in the centre of the city.
The council has decided to explore plans for a mixed development on Temple Island instead of an arena.
The decision follows a recommendation by officers to investigate an alternative scheme which could include a bespoke conference centre and a hotel, commercial spaces with supporting retail and residential homes for city centre living, and affordable homes on the site next to Bristol Temple Meads.
Bristol City Council passed a motion in favour of the Temple Island scheme on Monday but at the cabinet meeting on Tuesday, Marvin Rees, Mayor of Bristol, said spending more than £150 million on an arena was too risky.
He commented: “We need to move forward now and ensure Bristol is fit for the demands of a modern, thriving and well-connected city. I am confident an alternative development for Temple Island is at the heart of that vision and will create inclusive economic growth, jobs and homes. Jobs and affordable homes are the key priorities for delivery by my administration and they will come first.
“By not borrowing the huge sums needed to build the arena, we will also release capital for other exciting city projects. I remain committed to delivering an arena for Bristol and we will continue to work closely with our partners to make sure that we make this a reality.”