The Listening Posts were four stainless steel beacons which played recordings of emigrants who had left Ireland at the port of Cork in search for a better life.
The posts played interviews with emigrants, their relatives and descendants, as well as those who worked on the ships.
The installation cost €100,000 when it was unveiled in 2006, but the voices are no longer heard due to vandalism.
Green Party councillor and general election candidate for Cork North Central, Oliver Moran, says now is the time to restore the sound installation, in light of the large-scale developments underway at Horgan's Quay and on Penrose Quay itself.
Cllr Moran suggested that developers involved in these developments might contribute to the restoration.
"It's a very unique monument and remembers the heritage of the area in a very authentic way."
"Unfortunately, it's been badly vandalised, but hopefully salvageable. At least a part of the reason it suffered is from being a little out of the way before, but now we have major office buildings and apartments being built immediately around it. That would give the kind of passive supervision that would hopefully deter vandalism again."
Cllr Moran noted that the installation was created by sculptor Daphne Wright, who was elected a member of Aosdána in 2011, along with Johnny Hanrahan of the CIT School of Music, and British sound designer Dan Jones.
"It's not every place that has an installation by the likes of artists like these. Restoring it would add further value to the developments taking place around it."
"These kinds of things add a sense of place. They place new developments in the docklands in the context of the history and community of Cork."
"It would be especially significant in a place that will now have many newcomers to Ireland, working and living nearby... completing the circle between migration then and today."