The Canterbury Communities' Earthquake Recovery Network says it's symbolically important that construction is under way in the centre of Christchurch.
Work has begun on the first multi-level building in the central business district, a four-level building on Madras Street.
It's on the site of the original Harcourts Grenadier Real Estate building, which was demolished after the 22 February earthquake.
Canterbury Communities' Earthquake Recovery Network's chairman Tom McBrearty says it's a sign that the city is starting to come together.
"I think it reflects that there are still a lot of people who have a positive outlook towards our city and it's a way of saying 'we're prepared to stand here and develop this part of the city, now come on board, and consider what you can invest in other areas of the city and possibly in the suburbs as well'."