A DEMOLITION notice has been issued on 72 High Wycombe homes as a £10.5m regeneration process gets underway.
Starblocks in Castlfield, formerly council housing, may be pulled down to make way for new buildings.
A total rebuild is one of the options being considered by Red Kite Community Housing, which bough Wycombe District Council's housing stock 15 months ago.
There are 72 flats located in Chairborough Road and Pettifer Way.
Tenants and leaseholders have been told that despite the notice being issued demolition is not certain.
A consultation has begun.
Red Kite Chief Executive Trevor Morrow said: “It's a great location, it's just a question of the building being tired. The consultation is basically a case of what do people want on the site? If the majority of people feel redevelopment is the best option then it's whether we can phase it in in.
“Whatever comments come from the community it's a question of costing and making sure it's affordable. We have a sum of money set aside in the business plan.
“If the response is a more ambitious idea it's a question of whether we borrow money. There's a lot of uncertainty at the moment.”
There is no Government funds for the project, which officials aim to see completed by 2016.
The housing complex consists of five blocks, all built in the 1970s.
Red Kite said, as the first major project it has undertaken, it is important to make Starblocks the precedent for future schemes.
Tenants and leaseholders wishing to give their views can call Project Manager, Angela Wheeler, on 01494 476 293.