A decision on the redevelopment of O'Devaney Gardens, which would include the construction of 824 homes, has been postponed by Dublin City councillors.
Some councillors had threatened to reject the proposal because they wanted more social and affordable housing.
Following the offer of further talks with Housing Minister Eoghan Murphy, the vote has now been deferred.
The plan to provide 50% private, 30% social and 20% affordable was agreed by councillors in January 2017, but some parties have changed their view. Sinn Féin now wants 100% public housing through a mixture of social, affordable sale and affordable rental.
When the actual prices were released on the affordable sale units, Sinn Féin councillor Janice Boylan, who is from the original O'Devaney Gardens flat complex, said they were not truly affordable.
According to a council report issued last week, prices for the affordable units would range from €240,000 for a one bed apartment, to a maximum of €320,000 for a three bed house.
The report by assistant Chief Executive Brendan Kenny warned that if councillors rejected this scheme under the Land Initiative, then both O'Devaney and a similar plan in Coolock would have to go back to the drawing board, meaning a five year delay for the construction of a total of around 1,500 homes.
Under the Land Initiative, developers are allowed to build on council owned land to an agreed master-plan, including mix of tenure.
Correspondence released from Housing Minister Eoghan Murphy stated that Government funding for affordable homes and community facilities would be lost if councillors reject the plan. He said this would be a "significant blow" for the citizens of Dublin.
He also ruled out increasing the subsidy on the affordable units, saying the grant is limited to €50,000 per unit.