Old Myer site in Coorparoo to be redeveloped Artists impression of the redeveloped Myer site at Coorparoo Source: Supplied NEW life will be breathed into one of Brisbane's largest retail eyesores, the former Myer building at Coorparoo. Plans will be submitted to the Brisbane City Council for three residential towers of up to 18 levels, a retail plaza and offices, which will be wrapped around the extension of the Eastern Busway. The State Government has awarded Townsville-based Honeycombes Property Group the right to develop a $150 million mixed use development to be known as Coorparoo Junction, on the corner of Old Cleveland and Harries roads. Honeycombes managing director Peter Honeycombe said the old Myer site would be transformed over the next five years into a ``vibrant mixed use development" featuring 300 residential apartments and 1500sq m of retail. "Part of our development agreement with the State is to provide provisions for a transit link to the busway and we also have to provide some set-down areas for the current bus route and a public podium area," he said. We believe that this site has many significant attractions as a mixed use development, with a key factor being the proximity to the CBD and its outstanding aspect to the City skyline. Mr Honeycombe said there was a focus in the tender process to provide convenient, open public space connecting Old Cleveland Rd through to Holdsworth St as a proposed retail High Street. Coorparoo Junction will be constructed over three stages. The first stage is set to start late next year while construction of the final stage will be completed by December 2019. Last year the State Government fast-tracked the development process for the site, placing Australand, Leighton Properties and Honeycombes on the shortlist. Deputy Premier Jeff Seeney said the Myer site had been idle for years waiting for the previous Labor Government to build the Eastern Busway project. "The former government's mismanagement of this site has impacted local businesses greatly through the lack of certainty and the deterioration of the buildings," he said. It is important we continue to see economic development across the state, with the Coorparoo Transit Oriented Development a prime example of what we can expect to see. The previous Labor Government acquired the Myer site in 2009. But it put the extension of the busway on the backburner and, except for a few brief retail ventures, the landmark building has been empty.