RESIDENTS say a waterfront location convinced them to buy into Lascelle Street, Cecil Hills.
Their homes overlook a lake on the other side of the street, providing a much-valued outlook and view now under threat from developers.
Construction companies Landcom and Mirvac own the site containing the lake and plan to build a housing estate there called Cecil Gardens.
Resident fear they will fill in the lakes to do so.
Lascelle Street resident Michael Botfield said: ``We wanted to live in a natural area and Landcom told us repeatedly that the lakes would stay.
``Now we believe it's going to be taken away and we won't stand for it.
``They had a meeting for residents, but it was poorly attended because they didn't make their plans clear in the flyer and now they won't answer our questions.''
A Mirvac spokeswoman said it was too early to comment on specific plans, including those relating to the lakes, as development plans were in very early stages.
A joint Landcom and Mirvac statement said the firms had applied to have the area known as South Cecil Hills rezoned from rural (future urban) to residential.
``A team of specialist consultants has been engaged to undertake detailed site investigations to determine the suitability of land for residential development,'' it said.
Landcom and Mirvac will hold further community consultations once investigations are complete.
A Liverpool Council spokeswoman said the council was currently assessing a rezoning and new suburb name application for the site.
``The application was put in on June 6, 2008,'' she said.
``The council considered a report at its meeting held on December 15 and the proposal is currently being assessed by council officers,'' she said.
``As yet the applicant has not provided all the necessary information.''
She did not comment on what, if anything, would happen with the lakes at the site.