A Dublin TD said it would be "utter madness" for NAMA not to keep control of the Irish Glass Bottle site in the wake of the Covid-19 crisis and the downturn in the construction sector.
It comes after the tender process, that was looking for companies to develop the site in Ringsend in Dublin, closed yesterday.
People Before Profit's Richard Boyd Barrett said it should be kept in State possession.
He said: "The only guaranteed way to develop this site for the affordable and public housing we need is for the State to do it directly.
"It's just a gamble to hand it over to private developers who could sit on it, who could speculate with the land, who could delay the delivery."
Meanwhile, plans by the construction industry to “stress-test” health procedures to allow sites to open up again were discussed at a meeting between Government officials, employers, and trade unions, according to the Construction Industry Federation (CIF), “with an understanding it can start in May” - beginning with social housing sites.