The national mint site in south Dublin is set to be designated for social and affordable housing.
The Central Bank is carrying out a review into the future of the high-security currency centre in Sandyford, which is part of a 37-acre plot.
The Land Development Agency is currently preparing a list of public lands suitable for housing, with the plot near the M50 expected to be included according to the Irish Times.
The LDA aims to build 8,000 new homes over the next five years.
Members of Dun Laoghaire Rathdown county council have voted to provide residential and open space zoning on the site.
In a statement to the paper, the Central Bank says it would be at least five to seven years before any potential move, saying a strategic review into the future of the currency centre is continuing.
The facility is used to mint euro coins, having stopped printing banknotes at the centre in 2019.