DEMOLITION of Coorparoo’s iconic Myer building has started, making way for construction of one of Brisbane’s most significant mixed-use urban renewal projects in recent years.
Coorparoo Square, a $232 million development fronting Old Cleveland and Cavendish Roads, will turn one of Brisbane’s oldest and most loved suburbs into the city’s newest urban hotspot.
The first stage of demolition includes knocking down buildings at the northern end of the site and stripping the internal fit-out of the main structure. Protection scaffold will be installed to the perimeter of the site.
The iconic 1970s neon Myer sign has been taken down from the building today and will be restored with the intention of featuring it within the new Coorparoo Square.
[urbanRelatedPost][/urbanRelatedPost]Australand Queensland general manager residential, Cameron Leggatt said the commencement of the demolition program was the first major construction milestone for the Coorparoo Square project.
“Residents of Coorparoo, and indeed Brisbane, have been looking forward to this project going ahead for some years,” he said.
“It was only a month ago we appointed the builder, so to be clearing the site shows our intention to move full steam ahead.
“We anticipate the demolition works will be complete in early July, after which point we will be able to break ground on Coorparoo Square.”
Honeycombes Property Group managing director Peter Honeycombe said the demolition of the run-down building marked a new era for the landmark site.
“The site has for sometime been regarded as one of Brisbane’s biggest retail eyesores,” he said.
“So we’re very excited to move ahead on creating a project that will add value to this already blue-chip location.”
Featuring more than 360 apartments, a 6000sqm retail precinct and a 10-theatre Dendy Cinema complex, Coorparoo Square is being developed as a joint venture between Australand and Honeycombes Property Group.
Stage 1 of the project is expected to be complete in the first quarter of 2017, while stage 2 is slated for completion later that year.
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.
Coorparoo Square’s residential offering will include a mix of one, two and three-bedroom apartments as well as a limited number of 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.