The developer of a 72-level tower in central Melbourne that failed to build the underground car parking it pledged when plans were approved is being investigated for the breach.

The Brady Group did not provide two of the three levels of underground car parking promised, following the demolition of the 152-year-old Stork Hotel at 500 Elizabeth Street, opposite the Queen Victoria Market.

Melbourne City Council discovered two levels of basement parking were missing in Brady Group's Vision apartments this year, and is considering what enforcement action it can take against the developer.

"The developer has applied to the Minister for Planning to amend the plans to reflect its failure to build the two levels of car parking," a council spokesman said.