Wellington's Michael Fowler Centre and Opera House have been issued with Earthquake-Prone Building (EPB) notices on Thursday.
Wellington City Council said it recently commissioned seismic assessments on the buildings.
Those assessments found parts of both locations were below the 33 percent New Building Standard (NBS) threshold for being earthquake-prone.
Under the NBS, a building's seismic performance rating is given based on its seismically weakest part.
The EPB notices give the council, as owner of the buildings, seven-and-a-half years to plan and carry out remedial works.
Council chief infrastructure officer Siobhan Procter said the much-loved venues would play key roles in the entertainment district.
An occupancy safety assessment found both were safe to occupy, Procter said.
"We have concluded, on reviewing the latest advice in conjunction with the MBIE Seismic Risk Guidance for Buildings, that there is nothing within either assessment that indicates both buildings cannot continue to operate as normal."
Part of the assessment looked at the role the buildings played in the community, Procter said.
Since they were well-utilised, the assessment considered there would be a "moderate impact" if they closed.
The Michael Fowler Centre, which is home to the New Zealand Symphony Orchestra, hosts a range of events and holds up to 1800 delegates.
The 100-year-old Opera House holds almost 1400 people, and hosts a variety of performances, including ballet and theatre.
Procter said over the coming months the council would look at what options were available, which could span from demolishing them to fully upgrading them and everything in between.
"We need to go through that process of assessing all those options.
"Deciding which option would be the preferred option based on a number of criteria and economics of it."
A proposal would then be taken to council. Procter expected that to occur in the next nine to 12 months.
In the meantime, the EPB notice would be displayed at every public entrance to both buildings.
Protecter said at this stage, the council was not concerned about any other major venues in Wellington.