The East Brisbane State School, a primary school for children aged five to 12, will be closed and moved down the road.
The decision comes after parents and students were “met with a brick wall of silence” during protests to keep the school open.
“There’s no rhyme or reason as to why this should be going ahead displacing a school community,” parent Haline Ly said.
“People have been coming here for 123 years.”
The school and its students have three options to find a replacement campus.
One suggestion is opening a new primary school on the Cooparoo High School grounds 2km away, the other is creating a merged primary and high school with Cooparoo High.
The third option is reshuffling the 300 students to other schools in the area.
“It’s gonna be really sad I’m gonna lose all my friends and teachers,” one student told nine.
“It will be heartbreaking.”
Premier Annastacia Palaszczuk said the school will be relocated in 2026.
Brisbane won the bid for the 2032 Summer Olympics and Paralympics in 2021. It will be the third Australian city to host the event, after Melbourne in 1956 and Sydney in 2000.