THE private sector is not heavily investing in Bendigo's city centre even as governments continue multi-million dollar builds.
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That is because that precinct is "really, really hard", developer Scott Jackman has told a public meeting into replacing a 2005 CBD plan.
The sector has been most successful at converting city centre homes into offices since 2005, he said.
The period did see major public city centre builds including a new library, the Edwards Street car park and the gaol redevelopment into Ulumbarra Theatre, with governments willing to spend money in towns that could alleviate Melbourne population pressures, Mr Jackman said.
"They recognise at a state and federal level that we are a really good solution to this problem," he said.
Preserving ageing and heritage buildings in the city centre has come into focus as the City of Greater Bendigo consults publicly on a replacement plan.
Monday night's meeting was organised by the National Trust Bendigo branch, which invited speakers to discuss what role heritage buildings might play.
More from the discussion: Rate capping could undermine Bendigo's heritage, architect says
Mr Jackman said the challenge in the CBD is to find modern uses for ageing buildings right when business people's needs are rapidly changing.
"We can live with this grandiose idea that we are going to preserve all of our building stock but if they are not in use they will come into decay," Mr Jackman said.
His business is finalising a remodel of the Hargreaves Street post office building's second floor, based on the idea that workers do not need office space in the same way they once did.
"As a businessman, I don't have to be anywhere specific and I don't need someone to answer the phone for me, but I'm still more efficient if I go to work - and I still need a place to meet with people," Mr Jackman said.
More on the city centre plan:
His group will offer up 12 office spaces in the post office building, along with shared meeting rooms and an open floor plan with 20 more desks.
"Most importantly, we say that if this doesn't suit you, if your business outgrows it or doesn't succeed, give me 90 days notice and I'll let you leave," Mr Jackman said.
"So it's really about how society is moving now, how people are interacting and asking what a building needs to remain relevant."
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