A coalition of traders and campaigners have submitted their own restoration plan for Wards Corner as an alternative to a huge housing development.

The Wards Corner Community Coalition, formed in 2007 in opposition to plans by developer Grainger to turn the building outside Seven Sisters Station into hundreds of new homes and shops, wants Haringey Council to back its proposal to protect the existing market traders.

The move comes ahead of a planning meeting on Monday where councillors will decide whether to approve the Grainger plan, which would mean the demolition of the existing building and a new development constructed with 196 new homes, a new market, shops and restaurants.

A similar plan was rejected by the council last year, although the firm is appealing that decision.

Grainger believes the scheme could bring 600 jobs and £11million of new retail spending to the area in the next five years, but campaigners have labelled it an “overpowering clone town” that would destroy the independent traders’ livelihoods.

Coalition member Roy Jose told the Haringey Independent: “Our plan is almost a direct counter to Grainger’s plan, and this proposal is going to ensure that people aren’t going to be evicted from the site and the businesses that are currently there catering for the local community will be able to continue to serve it.

“We’re all very excited but we’ve clearly got an uphill battle on our hands – but we’re not going to give up.

“If Grainger’s plan is accepted all of these locally owned businesses will be trashed and forced to move elsewhere in London with little compensation – we need to restore the current building and use the empty space to attract even more people.”

The campaigners’ planwould see the current market protected and improved, with a community space, stage, and art gallery on the upper floors.

The building would be managed by a community trust, which would seek a long-term lease with the current owner, Transport for London.

The council has previously expressed concerns of the financial viability of the plan, but Mr Jose said the coalition would be able to source funding for the restoration once it had backing.

He added: “If the council were minded to support the community’s proposal, there’s money out there and if we can go and say we’ve got planning consent we will be able to find it.”

Grainger development director David Walters admitted last month that he could not cap the rents of the stalls at the new market, but questioned why the current traders should get preferential treatment compared to other businesses.