Cornes announced his immediate retirement on Wednesday due to an infection in his knee related to surgery he underwent in January.
The 33-year-old played 16 games for GWS in 2012, including the club's two victories that season, but has been unable to get back on the field this year.
Some have been critical of the Giants' lack of competitiveness this season, but Cornes is in no doubt the club is heading in the right direction, and urged any possible free agents to get on board.
"This new facility (at Sydney Olympic Park) is going to be amazing when it's ready in six months' time," Cornes told reporters.
"All the hard yards have been done from the work 'Sheeds' (GWS coach Kevin Sheedy) and everyone else has done from three years ago.
"I'm not sure how they got through all that, that willbe looked back on in 10 years' time and a lot of praise and admiration will go to these guys who started it all up.
"You only have to look at the list to know that it's going to be an amazing future for these guys if they do all the right things.
"If anyone's looking to move here, it'd be one of the best things you could do.
"The tide will turn and this club will be very successful."
Cornes had hoped to play in the latter part of this year, but found he "couldn't even jog for 20 minutes" as he tried to get back on the field.
It ends a glittering career that included a premiership with Port Adelaide back in 2004, the same year he finished third in the Brownlow Medal behind Mark Ricciuto and eventual winner Chris Judd.
He initially retired at the end of 2011, but was thrown a lifeline by the Giants, leading to a player/coach role with the AFL's newest club.
Cornes, who started his career as a forward before being shifted into defence in 2004, finishes with 255 games and 179 goals.
Sheedy said Cornes had been a critical part of GWS' entry into the AFL.
"He will make a very, very good coach if he wants to move into that category," Sheedy said.
"His attitude is impeccable towards the way you have to prepare yourself.
"Eventually this club will unfold because of people like Chad."
Cornes will spend the rest of this year helping mentor some young Giants, but is yet to make a decision on his future beyond that.
His partner lives in Adelaide and Cornes has often expressed his fondness for his home state of South Australia.
But he remains overjoyed he made the decision to reverse his retirement.
"I'll look back on last year as one of the more memorable times I've had in football," he said.
"I can't thank the club enough for giving me that second chance.
"I still thought I could play and bring something to the table.
"It was rewarding just to know you could still go out there and get a kick and be valuable to a new start-up team."
James Dampney is a reporter for AFL Media. Follow him on Twitter @AFL_JD
