Waterford City & County Council have agreed to engage with the vendors of the historic Gallweys Hill site in Tramore.
This comes following news that the site is for sale for €250,000.
Significant volumes of submissions were received in 2021 respect of a planning application for the site for the development of two residential properties.
A decision was ultimately made to refuse permission for the development.
The sale of the site was raised as a point at this week's meeting of the Metropolitan Council.
Based on a desire raised by many Tramore residents to see the Council undertake a Compulsory Purchase Order on the site, the possibility of this was raised at the meeting in City Hall.
Local Fianna Fáil councillor, Eamon Quinlan said: "Tramore has seen its green areas in the town diminish in recent times and this would be a powerful statement of intent by the Council that they will preserve public green spaces in the heart of our towns."
He added that over the course of the meeting, "Our executive gave a commitment to engage with the sale to see if an amicable price for both sides could be agreed."