The Waverley Basketball Association was formed in 1976 with the building of the Jordanville Community Centre. Waverley began with one court at the current location and grew over a number of years with additional competitions played at Highvale Secondary College, Mazenod College, Mount Waverley Secondary College, and Wheelers Hill Secondary College.

Courts 1, 2 and 3 were constructed in 1992 at a cost of $1.3 million and in 1999 Courts 5 and 6 were completed for a further $400,000. Although on council land the building of the stadium was totally funded by the Waverley Basketball Association through loans with the National Australia Bank.