The reformation of the 75,000 square foot lot, located on West Franklin Street, is a result of the Chapel Hill Downtown Small Area Plan, adopted in March 2000, to encourage residential and office development in the area.
UNC students, Chapel Hill residents and Town Council members were invited to the forum to hear opinions from four panelists and voice their opinions afterward.
The meeting was opened by Sierra Club Chairman Robert Porter, who said Chapel Hill should use the space to keep the town unique.
"We need to be a special place, not just another place," Porter said. "Good public places bring people together."
Local business officials also attended the forum.
Chiropractor Chas Gaertner, who works near the area in question, said there are too many buildings surrounding the area to make an open space work.
"There's a major flaw in the plans," Gaertner said.
James Morgan, founder of Art on Weaver, spoke on the benefits of putting a public work of art in the space.
"Public art has the ability to make a space special and memorable," Morgan said.