A planning permit has been sought by a developer to redevelop the former Thread Den premises (originally the Cavan hotel) into a 7 storey apartment building. I don’t understand how an application can be made for such a redevelopment of a heritage listed building on a street with a heritage overlay.
If this is possible, prepare to farewell all but a few tokenistic scraps of the historical facades along Fitzroy’s high streets. The development retains the existing hotel but, although recessed, the 7 storeys tower over it. See the plans on the City of Yarra website.