Square to change shape of Coorparoo

One of Brisbane’s oldest and most loved suburbs, Coorparoo, is about to undergo a major regeneration that will turn its heart into the city’s newest urban hotspot.Work is about to begin on Coorparoo Square, a $232 million urban renewal development on the site of the iconic Myer department store fronting Old Cleveland and Cavendish Roads.The existing building will be demolished this month (March) to make way for the first stage of the mixed-use project which has been in the pipeline since the then Labor Government acquired the site in 2009 as part of the Eastern Busway.Featuring more than 360 apartments, a 6000sqm retail precinct and a 10-theatre cinema complex, Coorparoo Square will be developed as a joint venture between Australand and Honeycombes Property Group.As a transit-oriented development, the project will align with future plans for the underground Eastern Busway, as well as providing pedestrian connection to the current bus service upgrades in the interim.Australand Queensland general manager of residential Cameron Leggatt said Coorparoo was a heritage-rich suburb on the doorstep of the CBD making it a sought-after lifestyle location.“Coorparoo is already a fantastic locale in its own right and this project will only elevate its status as a desirable address,” he said.“Coorparoo Square is aimed at complementing the charm of the suburb while providing new lifestyle and residential living options for the community.”Honeycombes managing director Peter Honeycombe said Coorparoo Square would breathe new life into Coorparoo with the delivery of architecturally unique buildings to create an iconic precinct.“This is long-awaited development will not only transform the area but it will also strengthen the Queensland economy with new jobs, greater activity in the business sector and increased government revenue,” he said.The residential offering will include a mix of one, two and three-bedroom apartments as well as luxury penthouses.In addition to the residential and retail elements, the three-building project will include more than 640 car spaces, two large swimming pools, a tennis court, large recreation areas and green space.An economic impact assessment of the project conducted by AEC Group found it would create 1151 full-time jobs during construction and a 270 ongoing jobs post completion.