Concerns have been raised over the use of a site in Goatstown for social housing and Traveller accommodation.
The Mount Anville Road site has been designated for the development since 1985.
The Sunday Times reports that a recent valuation by Dun Laoghaire Rathdown County Council maintains the site is now worth €15m.
There are now calls for it to be sold for private development and for the funds to be used to cover council debt inherited from the Dun Laoghaire Harbour Company which currently stands at €33m.
The council has said any proposals to sell would need the approval of councillors.
However, future local projects are dependent on the sale of council assets.