Mixed-Use Development Toowoomba: $85M Meridian Quarter Approved

Toowoomba's property market has received a significant boost with the approval of a major mixed-use development that will add 240 residential apartments, 15,000 square metres of retail and office space to the city's urban core.

The Meridian Quarter development, greenlit by council this week, will occupy a 2.8-hectare site on the corner of Russell Street and Anzac Avenue—just 800 metres south of the CBD's retail precinct. The $85 million project is expected to begin construction in early 2027 and complete by late 2029.

"This is exactly the type of infill development Toowoomba needs," said Michael Chen, director of planning at Toowoomba Regional Council. "It activates an underutilised pocket of the city while sitting perfectly between our established CBD and the growing East Toowoomba residential corridors."

The development will include 180 one and two-bedroom apartments targeting young professionals and downsizers, priced between $420,000 and $680,000—well-aligned with current inner-city expectations. A further 60 apartments will be marketed as investor stock.

Ground-floor activation is a key feature: the project includes a 3,500-square-metre fresh produce market (a nod to Toowoomba's agricultural heritage), five restaurant and café tenancies, and 5,000 square metres of flexible office space designed to attract professional services and tech startups. A 350-space car park will service residents and visitors.

The approval comes as Toowoomba's property sector continues to benefit from the inland rail megaproject and sustained migration from the southeast. Highfields and Glenvale have absorbed much of the residential growth, but planners acknowledge that inner-city renewal is equally critical for long-term sustainability.

"We're seeing strong demand from interstate investors and local owner-occupiers who want to be within walking distance of services," said local agent Rebecca Walsh. "This development will fill a genuine gap. There's nothing comparable in supply right now between $400k and $700k in the immediate CBD fringe."

The project also includes public realm improvements: a 1,200-square-metre plaza with landscaping and public seating will connect Anzac Avenue to the pedestrian network servicing nearby Laurel Bank Park.

Meridian Quarter's approval signals council's commitment to higher-density, mixed-use urban development—a marked shift from sprawl-focused approvals of the past decade. With the inland rail transforming regional connectivity and Toowoomba's median property price hovering around the Queensland average of $490,000, developers and investors are increasingly confident in the city's medium-term trajectory.

Construction jobs and permanent retail employment from the project are estimated at 850 positions across both phases.

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