City councillor Alan Cheevers is proposing that the Pálás Cinema building be demolished and replaced with an affordable apartment scheme.
The arthouse cinema closed last Thursday, citing considerable financial losses - however another protest to save it is taking place next Monday at City Hall.
A commercial analysis found the cinema was incurring annual losses averaging €239,000, and it would need 32,000 more attendees a year to break even.
It also recommends three potential future options - a partial repurposing, a tourism-focused model or a mixed-use redevelopment.
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Fianna Fáil Councillor Cheevers told Sarah Slevin it's time to 'cut our losses' and come up with a new plan for the site
