Community leaders are calling for a central arts centre or meeting hall in Headington.
They say there is no focal venue or community centre within the area, which claims to be Oxford's largest suburb.
Now it has been suggested a share of the millions of pounds given by developers through deals made when planning permission is granted by Oxford City Council, should be used to create a centre.
An arts festival on Saturday, June 7 and Sunday June, 8, in Headington, is being cited as the type of event for which a community arts centre is needed.
Jill Cummings, of the Headington Business Association, said: "We have no focal point, and some kind of facility would give us a real boost.
"I'd like to see an arts or exhibition centre built, or maybe something created in Bury Knowle House.
"Some of the money which comes from planning deals could be ploughed into a project like this."
Bury Knowle House, in Headington's Bury Knowle Park, is owned by Oxford City Council, leased by Oxfordshire County Council and has been used as a public library since 1930.
Tony Joyce, chairman of the co-ordinating committee of the Headington Residents' Associations, said: "There is certainly a shortage of community facilities in Headington, and this is highlighted by the loss of community facilities since the supporters' club at the Manor Ground ceased to exist."
The Manor Ground, Oxford United's former home, is now being developed as a private hospital and flats.
Mr Joyce said: "The club wasn't open to everyone, but it did serve community purposes. For instance, the city council used it for consultation meetings and Liberal Democrats held surgeries there.
"Bury Knowle House is probably under-used at the moment, but the only problem is that it is a listed building, so it could be difficult to create disabled access."
City councillor for Headington, David Rundle, said this was a project which could be promoted by the Headington Community Development Association, a group which aimed to benefit the community.
He said: "It's a good idea, especially for an area with a strong sense of community like Headington."
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