There are hopes a planned redevelopment of an iconic shopping centre will bring life back into a famous Melbourne street.

President of the Chapel Street Precinct Association, Matt Lanigan says the claim the street is dead is exaggerated.

“Undeniably the Jam Factory has lost some tenants and that’s understandable considering there’s a major redevelopment on the cards,” he told Tony Moclair.

Press PLAY to hear what has been planned for the redevelopment 

He also says there is still “plenty” of action in the precinct which spans 3.2 kilometres long.

Image: Google Maps.