ORLANDO, Fla. -- Part of Orlando's signature downtown Lake Eola Park could become another high-rise.

A company called Eola Capital wants to trade the city of Orlando five houses it owns near Lake Eola for land that's now a part of the popular park. (see map)

Downtown residents such as Sue MacNamara see Lake Eola Park as an emerald in the midst of Orlando's steel and concrete. But nearly and acre and a half would be paved over if the land swap happens.

"It's an urban park," she said. "And… there's a lot of historic homes around it still."

In April, residents defeated plans from developer to put a new 20 story headquarters building on lakeside land where five homes that have been converted to offices now sit. The company wants to deal that land in order to build on the new site at East Central and Eola which is where the popular weekly farmer's market is held. It would mean changing zoning and height restrictions.

"If they swap private property for public land, it puts every acre of park space in Orlando in jeopardy," said MacNamara.

The company will lay out its proposal before the city's Municipal Planning Board this week. But opposition is building. Last weekend, activists collected more than 1,200 signatures from residents.

Eola Capital's spokesperson said detailed plans are still being worked out and developers hope to win over residents at a meeting Wednesday night at Howard Middle School.