Campaigners want the former Oseney Court old people's home in Botley Road, Oxford, to maintain its role for the care of the elderly.
They are demanding it should be turned into a respite home and health centre for the elderly to keep it out of the hands of housing developers.
The newly formed Oseney Court Action Committee revealed their proposals at a public meeting last night at the West Oxford Community Centre.
Committee members hope to achieve their aim through the Warden Housing Association, which is discussing a developer's £2m bid to buy the property from Oxfordshire County Council.
Another option is a land swap deal, where Oxford City Council would swap commercial property for the site with the county council.
The campaigners said that financial help would not be available to allow Oseney Court to remain as purely a residential home for elderly people.
Their new plans are for a day centre for elderly people, with a day hospital, psychotherapists, occupational therapists and speech therapists, intermediate beds and some provision of long-term residential care.
Robert Elmore, a former chairman of Oxfordshire Health Authority, said the scheme could be eligible for Government funding.
County councillor, John Power said that Oxford was in need of more facilities for old people.
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