Arenas were not having much luck in Victoria. The Patrick Arena had burned down in 1928. Its replacement, the Willow Arena, was not even converted from a horse show building until 1941. It burned down in 1946 while discussions were being held about a replacement.
The replacement was built with public money and cost just under a million dollars. It was modern and fireproof - no one wanted to lose a third arena to fire. It was named the Memorial Arena in honour of locals who had given their lives in World War II.