McLaren Living intends to submit a planning application to Reading Borough Council in the next few weeks for its town centre scheme.
The proposals to redevelop the southern part of the 4.6-acre site include approximately 600 build-to-rent flats and 15,000 sq ft of commercial, retail and leisure space.
The residential buildings will be to the south of Broad Street Mall, tracing the path along Dusseldorf Way and integrating into the wider Minster Quarter masterplan.
McLaren Living development director Oliver Westray said: “We are extremely excited to be working with AEW to bring forward a reinvigorated mixed-use neighbourhood in Reading town centre.
“Our plans for Broad Street Mall will see an upgrade to the shopping centre along with redevelopment plans that will deliver much-needed new homes for rent, along with commercial, retail and leisure space, creating a renewed retail and residential destination for the town.
“We look forward to working in partnership with Reading Borough Council to bring forward this transformation of Broad Street Mall.”
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