An online petition was launched to protect an area of open space known locally as the 'Flat Iron.'
Posters have been fixed to trees at the site, which is sandwiched between Mill Street and St James Place, close to the Baltic Triangle in Liverpool 8.
Since the petition was started a week ago , it has gathered more than 600 signatures and aims to reach 1,000.
Jade McDonald, who started the petition, said: "It is rare, precious green space in our area, which has big beautiful trees.
"Living so close to the city centre, this green space is literally a breath of fresh air for our community.
"It is a place where local children play, where we can take our children to play, take our dogs for exercise or just for a stroll in a small oasis of greenery in our community, which so close to the city centre.
"Cutting down trees that filter and clean the air and that give us oxygen is not going to improve our environment or our health - it will only have negative effects on our environment and on our health.
"Removing this green space will not be conducive to the well-being of the people in our community."
According to the petition, a developer wants to build "430 apartments in apartment blocks as high as eight storeys" on the Flat Iron green space and on two sites either side of it.
It adds: "Although the planning application hasn't been officially submitted yet, the council and some local residents have seen the developer's planning proposals."
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The petition states that the sites are designated for a total of 94 houses on the council's Local Plan, which organisers do not object to.
It adds: "This community is desperate for more affordable houses, just normal houses similar to others in the community surrounding these sites."
A spokesperson for Liverpool City Council said "options were being looked at" regarding the site but there was nothing formal on the table.
The latest petition follows a number of high-profile protests by environmental campaigners over development proposals, including Bixteth Gardens in the city centre, and Allerton Priory close to Calderstones Park.
