It’s been a subject of discussion for years, but now plans for a new events centre in downtown Moncton are inching their way toward reality.

The city has now narrowed the field of bidders down to two companies that could undertake the construction project.

“The process now is, we are going through a very thorough evaluation process in order to choose the preferred proponent,” said Isabelle LeBlanc, director of communications for the City of Moncton.

Meanwhile, a downtown business group says the new centre is already helping revitalize the city’s core, which has plenty of space available.

“It’s already started to impact, just the fact that the city has bought the land, is talking about developing that area,” said Anne Poirier Basque of Downtown Moncton Centre-Ville Inc.

Mayor George LeBlanc is behind the project, but there is still work to be done to sell it to the taxpayers who will pay for it.

“We can’t even fill the Coliseum seats for the Wildcats,” said Moncton resident Amanda Gwinn.

“I’m sure it will bring extra tourism but my full opinion, I think it’s a waste of money.”

Others say bring it on.

“It’s going to be good for the economy, first of all, and it’s going to be good for all the business around here because there is going to be more people coming to Moncton just because of that centre,” said Moncton resident Mario Boudreau.

But many questions remain unanswered. The design has not been chosen and, as one city councillor points out, most of the funding is not yet in place.

“Hopefully we will have the federal and provincial confirmation of funds,” said Coun. Daniel Bourgeois.

“If not, I don’t know how we can possibly afford $95 million just by City of Moncton taxpayers.”

Despite the obstacles, the city is hoping to start construction next spring and to have the building open in September 2017.

With files from CTV's David Bell.