Construction has begun on Auckland's ambitious Waterfront Theatre.

The new home of the Auckland Theatre Company will be next to ASB's Wynyard Quarter headquarters, and is due to open in around 18 months.

ATC chairman Gordon Moller won't be drawn on what'll take the stage on opening night.

"Well I'd leave that to our creative director Colin McColl, but he's got lots of ideas and I think we'll have a real balanced on the opening. I'm sure we will."