The new owner of the Dublin Central site, which includes the 1916 terrace on Moore Street, says it wants to do away with the existing shopping centre plan in favour of a smaller-scale development.

Developer company Hammersons met today with 1916 relatives groups and political representatives to discuss a plan it says is more sympathetic to the historic nature of the site.

Speaking after the meeting, Independent Councillor Nial Ring of the Moore Street Advisory Group said that there had been a broad welcome for the new approach and it was deemed a way forward.

Hammersons is planning a mixed-use development mainly consisting of five-six storeys on the area also known as the Carlton cinema site which is bounded by Moore Street, Henry Street, O'Connell Street and Parnell Street. It would include hotel, restaurant and office facilities as well as retail outlets.

The 1916 Monument at Nos 14 to 17 would not be affected.

Hammersons, which developed Spitalfields in London, said it is willing to work with 1916 relatives. But it wants laneways connecting O'Connell Street to Moore Street and a connection between the existing lanes and Henry Street. It will consider retaining some of the buildings currently listed for demolition.

The company has appointed ACME architects to come up with a detailed plan. ACME's founding director Fredrich Ludewig said that instead of a shopping centre he wants "urban blocks that respect the historic grain of Dublin".

He said the plan is to improve the market facilities including existing street traders, create a historical trail and public spaces. It also wants to restore its part of O'Connell Street by respecting its Georgian heritage.

Graeme McQueen, head of public affairs at Dublin Chamber of Commerce, has welcomed the new proposal saying "the Carlton Cinema site has lain idle for far too long and has hamstrung plans to redevelop the wider O'Connell Street and Moore Street area. The area is hugely historic and we look forward to seeing the vision that ACME dreams up".

Hammersons took over the Dublin Central site which was previously owned by Chartered Land. Planning permission for a large shopping centre development is currently valid until 2022.