Wellington's mayor has flip flopped over the fate of the Basin Reserve's iconic Museum Stand.

He's announced three options to earthquake strengthen the stand after it was closed to spectators in 2012.

One option, worth $7.76 million, will strengthen the stand to 50 per cent of the building code.

He says the roof will be strengthened to 100 per cent of the code.

"We'll refurbish it extensively, it'll become the permanent home for Cricket Wellington, the permanent home for the New Zealand Cricket Museum, a venue for community groups."

Last year, he said rather see the stand knocked down.

But he says new peer-reviewed engineering reports reveal the building's life span will be at least 50 years when strengthened.

"When the facts change, my opinion changes. Initially it was conceived that the building would be terminal."

The options will be tabled before councillors next week.

The move is seen as being not just about cricket.

Basin Reserve Trust board member Fleur Fitzsimons says while it will mean another thousand seats for cricket, it would also be the opening of another community space for the capital.

"We need them and we know there is a lot of demand for community space so it won't just be about cricket, it'll be used by all sorts of different groups in the community, I anticipate."