The site of an old Myer will see a $125 million development in Coorparoo 4km southeast of Brisbane’s CBD.
The 12,000 square metre site will be host to a three residential tower transformation in a similar style to the Barrack’s in the CBD.
The Transit Orientated Development which is split into three stages will consist of three towers with heights ranging up to 18 levels and a total of 442 apartments.
According to the DA, the TOD development aims to create a dynamic and vibrant transit-orientated community that caters to residents and workers daily needs.
A key driver for the development is the creation of sub-tropical, shady pedestrian focused streets and spaces. The development will promote appropriate delineation of the streets and maintain a human scale to all edges and spaces.
The current property has been hailed an eyesore and the 366 apartments and 4000 square metres of mixed commercial and retail space are a welcome transformation for the area.
Honeycombes Property Group are behind the promising development submission as it is in line with the State Government’s planned Eastern Busway extension.
“As Brisbane’s population continues to grow, the provision of a mixture of one, two and three bedroom apartments in an area traditionally dominated by detached housing and small-scale units will greatly improve housing choice in Coorparoo,” planning chairman Amanda Cooper said.
Demolition of the current building is expected to commence in early 2015, with construction of the first stage to occur shortly after.
The site will be unique with plans to retain the old Myer sign, which has previously been considered an eyesore.
With a current concern for parking in the area, the development will also provide 661 parking spaces.