Approval brings Coomera centre closer
The development-starved tourism strip received a shot in the arm this week when the State Government gave its tick of approval to the Coomera Town Centre.
The long-awaited endorsement of the town centre's structure plan clears another hurdle for the long-awaited commercial precinct which has remained dormant for the past 20 years as housing estates have mushroomed around it.
The Urban Development Institute of Australia said the Government's approval offered a 'glimmer of hope' to the city's struggling construction industry. However, local councilor Peter Young said there was a way to go before construction would start because "People have got to be realistic about the timeframe," said Cr Young, who chairs the Sustainable City Future Committee. "I believe we probably won't see anything hugely significant on the ground for another three years and that will be dictated by the market “The practical reality is I don't think anyone is rushing to build a town centre."
The city council is expected next week to adopt the structure plan along with about 80 changes requested by the State Government. Cr Young said the next step involved a master plan that should be completed in three months.
The town centre's key partners - Queensland Investment Corporation and Westfield which own a 35ha site along Foxwell Road are progressing plans for the retail centre and have secured several key tenants, including Myer which is planning a 12,000sq m store to be opened by 2013.
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