Calls have been made for a change to plans for O'Devaney Gardens ahead of a council vote on the North Dublin regeneration project.
But local councillors Anthony Flynn and Cieran Perry are objecting to the plans as the disposal of the lands goes to a council vote next month.
The project will see private (50%), affordable (20%) and social (30%) homes developed on the site.
But the councillors argue that the public lands should not be "given away" to private developers.
Councillor Flynn said: “It is absolute madness for councillors to agree to giveaway prime public lands in the middle of the worst housing crisis this country has ever seen while we have over 10,000 people in emergency homeless accommodation.
"The Dublin Agreement adopted by the majority alliance on Dublin City Council has committed Fianna Fail, the Green Party, the Labour Party and the Social Democrats to retaining public lands for public housing and the proposed vote in September provides them with a huge opportunity to implement this policy."
The Dublin Agreement states: "We believe that state owned land in Dublin must be used for public housing: social, affordable and cost rental and that DCC should lead the development of such land to build communities for Dubliners."
Councillor Perry added: "The proposal to give away 70% of the housing to the private developers will deprive the local community of permanent affordable public housing in their area.
"The vast majority of local residents will not be able to afford the exorbitant price of any houses built privately on this public land. Land in public ownership is finite and if given away will be lost forever."
Spokesperson for the Campaign for Public Housing Joe Mooney continued: “The O’Devaney site has the potential to provide upwards of 700 affordable rental homes for people who cannot afford or don’t want to purchase privately. Developers shouldn’t be profiting from public lands."
