Situated at the Newstead end of Fortitude Valley, and only two blocks from the fashionable James Street precinct, the Waterloo Hotel (built in 1937) is a wonderful reminder of the art deco style of the day, with the original art deco fireplace and staircase still the centrepiece of the hotel. In 2008, the hotel will undergo a multi-million dollar refurbishment, while maintaining the heritage of the building.