Broad Street Mall, after The Oracle, is the biggest destination shopping centre in the town, home to 85 shops and with a footfall of around eight million people per week, according to property site Completely Retail.
Soon, a project that would see hundreds of flats added to the mall will be decided.
The project involves adding a total of 643 flats to the rear of the mall, contained in four new tower blocks.
The development would provide 49 three-bed, 297 two-bed and 298 one-bed apartments.
Of those, 65 (10 per cent) would be designated affordable, made up of seven three-bed, 31 two-bed and 27 one-bed units.
To clear the way for the new apartment blocks, part of the rear of the mall would have to be demolished.
This would result in the loss of five retail and restaurant units, including, Sushimania, Bierhaus and Culture Mix Arts.
Two units previously occupied by Audio T and the Pepe Sale_ have already been vacated.
A large portion of the TK Maxx would be demolished as well.
The project would also see the loss of 294 car parking spaces. Of the 720 existing spaces provided, 426 spaces will remain, with 21 of these being designated for disabled access.
A verdict on the plans is set to be made at the Reading Borough Council planning applications committee meeting on Wednesday, April 2.
It has been recommended for approval by planning officer Richard Eatough subject to the applicants entering into a multi-million pound legal agreement with the council.
Mr Eatough’s report states: “The mix of accommodation, including affordable housing, on balance, is considered to be acceptable.
“The provision of a level of affordable housing at 10.1 per cent on-site
initially is low, but suitable, given the economic circumstances of the development.
“Although there is little evidence to support the applicant’s assertion that the proposal will increase footfall to the Mall itself, the quality of the scheme, the
updating of the mall and the additional footfall and residential presence, is positive.
“The proposals would include a significant improvement to local health facilities and this weighs positively in favour of the proposals in the planning balance.
“It is considered that officers have applied a suitable planning balance when reaching this conclusion.
“As such, this application is recommended for approval.”
The project has been submitted by McLaren Living, a major property developer, and AEW’s Urban Real Estate Fund.
You can view the application by typing reference PL/24/0173 into the council’s planning portal.