My daughter who is a first time invester (cant afford to purchase in our hometown in Sydney due to the price rise in property) is looking at a unit in Coorparoo QLD which is only a couple of kms from the city. There are plans to re-develop an old Myers building in Coorparoo with 3 apartment towers with retail, eateries and businesses also in place at the bottom levels. In total there will eventually be around 400 apartments, which will be done in tower by tower stages. One 19 story tower, the two others being less. The big question is: Will this be a positive or negative effect on the older apartment blocks in Coorparoo. She really likes the area as there has been relatively no price increases over the past few years, so eventually the area will have to catch up to the rest of the east coast. We would really like to know what others would do in the same position. ps: definitely not in flood prone area. Thanks :)
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