Developer Harry Crosbie is planning a tourist lookout tower at the site of the Poolbeg chimneys in Dublin.
It comes as planning permission was yesterday granted for 3,500 homes in the area.
The well-known developer, who was behind the construction of the Point Theatre and the Bord Gais Energy Theatre, said he has met architects and council representatives about his proposed plans.
It is reported that he wants to develop a tourist site beside the iconic chimney stack, which would not interfere with the structure of the chimneys.
Independent Councillor Mannix Flynn does not think Dublin needs another tower.
Councillor Flynn said: "I just think that this whole area, which is a UNESCO unique heritage site, should be a place that everybody can come and enjoy without having to put their hands in their pocket to observe it.
"I think the bay itself gives you a fine big view, you can see for miles, you can see up to Howth. So, basically, having an observation tower there would be a carbuncle on this particular landscape."
The go-ahead was given to the construction of 3,500 homes at the site yesterday in a separate development.
25% of those homes will be allocated for social and affordable housing.