Of the 43,000 sq m in new real estate proposed, more than half will be taken up by a new nine-storey office tower, including a large amount of co-working space.
Chadstone already has one office tower as well as a newly opened hotel, examples of how Vicinity now regards much of its portfolio as ripe for redevelopment beyond pure retail into mixed use.
Co-working space will be included in the office tower.
The latest plan involves expansion of the dining terrace and leisure precinct, an upgraded fresh food precinct and more space added to the luxury mall.
While around 4300 sq m will be added in traditional retail outlets, there are even larger allocations for entertainment and health and wellness.
"It's a really nice blend of lots of additional things that build on the existing strength of the centre as well as adding some significant new offers that we don't have here currently," said Vicinity’s chief development officer, Carolyn Viney.
Along with traditional retail, the expansion plans include space for entertainment, health and wellness, and childcare.
If approved, it’s anticipated work could begin in 2021, with completion within four years.
"We anticipate these projects will create more than 250 roles during the first year of construction and more than 1500 new full-time jobs at Chadstone once completed," Ms Viney said.
More than 1400 additional car spaces will be added, increasing the current amount of bays by around 10 per cent and giving Chadstone the largest free car park in the country.
Chadstone's director, Fiona Mackenzie, said foot traffic at the mall had increased by 24 per cent at last week's Black Friday sales.
"In this next phase of our development we anticipate not just delivering experiences but services to the community that uses Chadstone every day,'' she said.
"We have a significant worker population that are seeking services beyond simply retail."