"We thought Matariki was the perfect time to bring the space back to life. There are some beautiful pieces of work being showcased in the inaugural exhibition of Penny Haka."
Mr Kiripatea said the potential for the gallery to take off was "huge".
"A lot of love and attention has gone into opening this gallery. It has huge potential and opens a lot of opportunities for Rotorua to grow as a creative hub."
He said the exhibition was the first of several events being run to celebrate Matariki this year.
Artist and gallery owner Logan Okiwi Shipgood said opening Penny Haka fulfilled a life-long dream to own his own gallery.
"As an artist I've always wanted to have my own art gallery so when this place presented itself, I felt like it was meant to be.
"The building has such a rich history - in the 1950s it was an art hub and held exhibitions from some of New Zealand's greatest artists including Colin McCahon and Toss Woollaston. In reopening this building as an art gallery I want to do justice to that history."
Curator Dianna Lee Raukawa-Doughty said with the opening of Penny Haka, they hoped to draw in artists from across New Zealand and the world.
"We want this to be an exhibiting space not just for indigenous artists but all New Zealand and international artists.
"For our first exhibition we have works from seven well-established artists but we also want to make the gallery a platform for emerging artists to showcase their work."
She said they planned to use the gallery space as a studio for artists to work in as well.
? For more on Penny Haka's exhibition and other Matariki events, go to www.facebook.com/MatarikiRotorua.