The Auckland Council has voted to pass a proposal to build a film studio campus at Hobsonville Point.
The campus would replace half of a 20 hectare block of land previously set aside as a marine precinct.
The remaining 10 hectares would be developed as a special housing area, with 315 new houses to be built.
Auckland, Tourism, Events and Economic Development (ATEED) said the studio would generate $483 million over 25 years and create more than 400 new jobs.
It would replace the council-owned Auckland Film Studios in Henderson, which were damaged in a fire last year.
Under the resolutions passed today, ATEED will have until the end of October to find suitable procurement for the site.
If no deals are reached, the proposal will be scrapped, and Auckland Council will instead adopt an alternative proposal to use the land to build 441 houses and an employment hub.
Fears film studio will fragment community
The Auckland Council had earlier heard public submissions on the two different proposals.
The Hobsonville Point Residents Society said the film studio proposal would fragment the community.
It said the jobs would go to those outside the suburb, and there was a need for local businesses and facilities that would help the community grow.