The Moore Street Preservation Trust presented their alternative plan for the development of Moore Street to Deputy Lord Mayor Joe Costello in City Hall today.
The plan is a response to UK property developer Hammersons' recent planning application for the site.
The developer hopes to turn the area into a massive shopping and office development with a proposal to build office space for 2,200 workers, 210 hotel rooms, alongside just 94 homes which may take up to 15 years to complete.
Deputy Lord Mayor said the alternative plan is "extremely impressive."
"I had a good look at the model and a good look at the various pictures that are here and it certainly looks very impressive indeed.
When asked if he will support the Moore Street Preservation Trust's proposal, the Deputy Mayor said: "Ah I think so.
"We're going to have a thorough examination of it. I'll be making my submission, my further information submission before the 30th of the month and we'll see what comes of that then.
"We can't have a 15-year building site. it just would ruin the trade in the area.
"There would be no footfall in the area, people wouldn't come into a building site. That's not the way forward.
"I've totally opposed that from the very beginning."
Jim Connolly, great-grandson of James Connolly, is part of the Moore Street Preservation Trust and said he is "as optimistic as you can be".
He told Dublin Live: "It's a red letter day in terms of a twenty-year long campaign and finally we have presented the alternative vision for Moore Street here in City Hall to effectively the Lord Mayor's Office."
To get the latest breaking news straight to your inbox, sign up for our free newsletter.
