Sir Peter Jackson's proposed Wellington film museum has been canned.
The Kiwi director and Wellington City Council have scrapped plans for a joint movie museum and convention centre, with the council instead moving ahead with its own convention centre, which should start by next year.
Both parties have "mutually-agreed parting ways" on the project, according to a statement, but it's understood Mr Jackson's plans have fallen through because of financial issues.
"The economics of the Cable St location proved to be a challenge for the movie museum," the joint statement by Sir Peter Jackson, Fran Walsh, Sir Richard Taylor and Tania Rodger said.
"We remain committed to the creation of a Movie Museum in Wellington and will now be considering other options."
Mr Jackson's proposed $134 million build on the Wellington waterfront site was unanimously voted in by councillors in December 2015.
Director George Hickton told 3 News at the time Mr Jackson and Mr Taylor's project had been in the pipeline for "well over a decade" and it was projected to be open to the public in late 2018.
The venue was planned to feature thousands of priceless props, models and set pieces on the bottom two floors.
But Wellington Mayor Justin Lester has now said he feels the movie museum and convention centre would work better as two separate projects.
A new Maui-inspired convention centre is being planned, which Mr Lester hopes will get going by 2019.
He says the council is in talks with Te Papa about partnering for the operation of the venue.