The building of over 700 homes near the Phoenix Park could be abandoned if councillors vote to reject a deal with the builders.
Plans to build 768 homes at O'Devaney Gardens have proved controversial due to the amount of social homes provided for in the plan and the price of so-called "affordable" homes at the site.
The €7m deal with Bartra Capital will be put before Dublin City councillors on Monday and head of housing Brendan Kenny has warned the redevelopment will be abandoned if the plan is not approved.
But local councillor Janice Boylan said she "cannot stand over" the current plan.
She said: "Sinn Fein supported the redevelopment plan on the basis that it would deliver decent homes for families trapped in O’Devaney’s dilapidated flats and affordable homes for the wider community.
“We only have one chance to get the redevelopment of O’Devaney Gardens right.
"As a councillor for this area I cannot stand over a plan that will profit a private developer to the tune of millions of euro and push local working families out of the community.
"My family, friends and neighbours deserve better.
“Sinn Fein supports the plan to redevelop O’Devaney but this proposal is a kick in a teeth for a community that has endured historic neglect."
Councillor Boylan called on her council colleagues to work together to deliver a "better deal" for the people of the north inner city.
Her party colleague, Daithi Doolan, pointed to the funding model for St Michael's Estate in Inchicore as an example to follow.
Under the current proposal, 411 would be sold privately by Bartra, 192 will be used for social housing and 165 would be sold to those who qualify as affordable housing buyers.
The affordable buyers, who would be nominated by the council, could buy one-bedroom apartments at the site for between €240,000 and €250,000, two-bedroom houses for between €260,000 and €300,00 or three-bedroom houses for between €300,000 and €320,000.
Several councillors wanted all of the new housing to be kept in council ownership by was of cost rental or affordable models, reports the Irish Times.
But Mr Kenny ruled this out, saying: "Affordable purchase was identified as the only viable methodology, mainly as a result of the fact that both of the two rental models at that stage were quite some time away from reality."
