Numerous events have been held at Forest Hill over the years including fashion parades, workshops, band and solo performances, exhibits, seminars, food and wine tastings, children's shows, cooking demonstrations, school holiday fairs and activities, giveaways, and contests.

[4][5] The original 27½-acre site on Canterbury Road in Forest Hill was purchased by property developer Paul Fayman from poultry farmer Fredrick "Freddy" Loomes for £59,800 in 1956.

This came about two years after Ken Myer had acquired 86 acres in nearby East Burwood with plans to develop a modern, car-orientated shopping centre – a concept new to Victoria.

In July 1957, Fayman announced that he would build a rival centre with 70 shops, two service stations, office space and parking for 1,400 cars at Forest Hill.

[9] Leading commercial architects Leslie M. Perrott & Partners and landscape draftsman Peter Glass designed the £6 million centre and a master plan was finalised in mid-1959.

[12][13] Estimated to serve a 8-kilometre catchment area of 220,000 people every week, the centre was originally going to be called Stonestown after a galleria of the same name in Los Angeles.

[7][14][15] The name was changed to 'Forest Hills' a few months before construction commenced, likely because Stonestown was too similar to the name of rival centre Chadstone; which was nearing completion at the time.

[16] The Board of Works had given Forest Hill Heights approval to build a £100,000 hotel on the site and Carlton & United Breweries had applied for a liquor license, but this was opposed by the City of Nunawading by a majority of 9 votes to 1 — backed by 89 objection letters which stressed issues such as road safety and the welfare of the students at the adjacent Nunawading High School.

A free-standing sign in the original front carpark bared the slogan "Happy Hunting" and featured an animated neon artwork depicting an Aboriginal man tossing a Boomerang.

TV personality Graham Kennedy attended the opening of Australia's first Safeway (now Woolworths) supermarket, which had 12 checkout points and a staff of more than 50 assistants.

[30] In early 1966, Forest Hill Heights commissioned Norway-born architect Thord Lorich and Kingsley Engineering to design additional shops, a restaurant, sports centre, theatre and professional offices for the vacant east side of Mahoneys Road.

A two-storey building comprising a sports centre, showroom, book shop, and executive offices was constructed at 69-79 Mahoneys Road in 1969.

[36] The lobby retains its original period tiled terrazzo floors and staircase, popcorn ceilings, polished brass balustrades and timber wall panelling.

The space originally reserved for a book shop and showroom was later combined and is currently occupied by Fresenius Medical Care; a healthcare company which provides kidney dialysis services.

[42][43] Although a portion of the former gymnasium was divided and occupied to house the Whitehorse Community Resource Centre, the original pool, change rooms, trampoline area and administrative office appear to remain vacant and in a state of disrepair as of 2025.

In 1967 it was announced that an auditorium, designed to TV studio specifications, would be constructed on Mahoneys Road, and would run daily matinees for shoppers, special audiences, and schools.

[44] Designed by architect Thord Lorich with assistance from ATV-0 engineers, it became the first purpose-built picture theatre in the Nunawading area, boasting 362 seats (later reduced to 337), a coffee lounge, kitchen and snack bar.

[53][54] Centre management worked with council officers and local police to re-open it as "Club 3131", a community-based blue light disco.

[55] In 1975, the rear car park was replaced by a modern two-level indoor shopping centre featuring a 9,290 m2 fresh food market.

[58] In 1981 Pacific Shopping Centres engaged design consultants Meldrum Burrows & Partners to conduct a feasibility study concerning a proposed remodelling and expansion of Forest Hill.

It provided insufficient amenities for shoppers, including inadequate weather protection in numerous locations, a lack of air conditioning in various shops and common areas, and limited space for display and promotional activities.

[61][62] The City Of Nunawading approved the project in July 1986 and works commenced in August with the demolition of six houses on Flora Grove to free up space for a reconstruction of the car park and roadworks to develop Pacific Way; an access and bypass route for the redevelopment.

The food court originally had a late 19th century French spelter statue of a winged figure holding a clock that stood 2.4 metres high.

There was a lack of visual integration between Forest Hill Chase and shops on the east side of Mahoneys Road, and an absence of a sufficient identity which serves as an address/focal point for the centre.

To address these issues, an amendment to the Nunawading Planning Scheme was formulated and the precinct was designated as the Forest Hill Activity Centre.

[73] Forest Hill Chase and Hoyts were among the many objectors to a highly publicised 1995 proposal by Reading Cinemas to establish a $25 million 25-screen complex in the nearby suburb of Burwood, which ultimately failed to materialise.

[74][75] A bar lounge and tavern with 90 gaming machines (later reduced to 50) called Vegas at The Chase opened on the centre's third level in early March 1995.

[83] The executive offices building received a minor upgrade around the time the Whitehorse Community Resource Centre moved to Suite 10 at Level 1 in 2011/2012.

An updated 'Entertainment and Dining' precinct with a refurbished Hoyts cinema, three new restaurants as well as new minor anchor retailers JB Hi-Fi, Rebel and gymnasium Fit n Fast was established.

The open space near Coles was refreshed in late 2024 with new modern floor tiles, enhanced ceiling features, upgraded architecturally incorporated lighting, and new seating & furniture pods.