The grandson of a long-serving former minister of St David's said the group was committed to doing all it could to save the "national treasure".
"To just demolish it because it needs some support and some investment is wrong," Paul Baragwanath said.
"We are going to do everything it takes to save this national treasure."
The "Uptown Rise and Dine" event is based on the aerial dining phenomena, popular in the UK.
Diners will be seated at tables perched between 6m and 8m in the air, providing panoramic views of Auckland's stunning skyline and harbour.
To top off the evening, they will be able to tuck into a three-course dinner prepared and served by the award-winning team from Gina's Italian Kitchen.
"It's a novel idea and we are happy that Uptown can be part of something truly unique which not only showcases our businesses but also our vibrant, exciting precinct which is definitely on the way up," Gary Holmes, general manager of Uptown Business Association said.
Joyce Fantoni, co-owner of Gina's Italian Kitchen, said the popular central Auckland restaurant was excited to be involved in the venture.
"We love the atmosphere we create here at Gina's but we're eager to get out of the kitchen and serve our food in such a novel setting," she said.
Aside from the table auctioned for St David's, the other tables would be given to winners of various online competitions.
Veronica Fioravante and Marco Ricci from Gina's are pictured serving diners Paul Pang and Kristy Burden as a practice run for the event.
www.uptown.co.nz