Dublin City Council has spent almost €1.5m on the College Green Plaza project so far.
At a meeting last night, a number of councillors say the project 'must not be abandoned'.
The project was refused permission by An Bord Pleanala three weeks ago, due to concerns about traffic and transport.
Plans for the plaza would see a ban on all traffic including buses and taxis from accessing Dame Street through College Green.
The council's head of traffic Dick Brady says there is an 'urgent need' to reconfigure College Green.
According to the Irish Times the council is now considering three options.
To seek a judicial review of the board's decision, the submission of a fresh application or to 'abandon' the proposal but go ahead with alterations to traffic management in the area.
- Digital Desk