Greyfriars House in the town centre is a multi-storey building that has long served as offices.
But the huge offices could be demolished and replaced with a 13-storey apartment building in Greyfriars Road.
A public consultation and exhibition has been launched by a company called Elder, which appears to own Greyfriars House.
The promotion for the exhibition states: “The wider locality is undergoing a successful transformation and these proposals seek to complement the emerging new residential area with a Co-Living scheme that will provide wider residential choice and a more affordable product fit for 21st century needs.”
‘Co-living’ involves unrelated people sharing living space and facilities, with proponents arguing that it creates community and helps tackle loneliness.
A public exhibition of the project will take place at an unoccupied unit in the Broad Street Mall next to TK Maxx from 3.30pm to 7.30 pm on Wednesday, September 18.
The exhibition boards will be available to view online at www.greyfriarsreading.co.uk from 3.30pm that day to allow those unable to attend to review and provide comment, which can also be provided by emailing feedback@greyfriarsreading.co.uk.
Greyfriars House was previously occupied by the probation service, which supervises people who are serving community sentences or have been released from prison.
The probation service is now located at the Abbey Gardens office building.