The Arches Centre is situated on land adjacent to and south of the Newtownards Road. It includes several commercial premises on the northern, eastern, and southern sides of the site, hosting retailers like Wyse Byse and various small businesses. The first and second floors are used for office space, storage, and as a temporary art studio. An asphalt public parking area is located immediately south of the site.

In April 2024, Linette Developments Ltd submitted a planning application (LA04/2024/0675/F) proposing change of use of the first and second floors of The Arches building to create 39 apartments, along with the extension of the second floor to add 6 more apartments and the construction of a new third floor to provide 19 additional apartments. This will result in a total of 64 social housing units, along with ancillary and associated works. The ground floor units remain unaffected by the proposal.

The Arches Centre proposal underwent a Pre-Application Community Consultation (PACC), which included a public consultation event at a local venue and various remote and online consultation methods.

Gravis Planning stated:

"The feedback on the presented plans was positive, highlighting the urgent need for social housing in east Belfast and the resourcefulness of repurposing the underutilized space in The Arches Centre to address this issue."