Ivinghoe Youth Hostel could be saved from closure if a group of young professionals succeed in their bid to transform it into an eco-friendly commune.
The hostel is set to close at the end of next month (September) and will be sold by the Youth Hostel Association (YHA) to cut costs.
A group of workers from London want to buy the building and transform part of it into an area for communal living
while keeping the hostel open.
The latest proposals for the village hostel came from an idea for a reality television show. Ivinghoe was a possible base for the show, but the programme makers have since decided to use a location in London instead.
Being environmentally friendly is at the forefront of people's minds and the Government is encouraging everyone to do their part to combat global warming by saving energy and recycling.
The announcement by the YHA, last year, that the hostel was to close, was met with fierce opposition from villagers, who feared it would devastate local tourism.
A campaign group was set up and has been fighting to keep the hostel open, however, it now seems certain that it will close on September 30.
The YHA's website states the hostel will close and advises people to seek alternative accommodation at the Jordans or Milton Keynes hostels, both 19 miles away.
As part of proposals to keep the hostel open the eco-group of around eight people would work with local organisations such as the Chilterns Study Centre and College Lake on educational opportunities for visitors.
Julie Lloyd-Evans, who runs the study centre and has been working with the group, said: "It is a very exciting idea.
"A group of people are interested in investing in the hostel to continue using it as a hostel but also living as an eco-friendly community.
"Some may be involved in the running of the residential part of it and others will probably still keep their jobs in London.
"The whole ethos behind having a sustainable living community very much interests me."
Although the plans are still in the very early stages the group has already visited the hostel and is looking into securing a mortgage for the building.
Mrs Lloyd-Evans along with Aylesbury Vale District Council councillor Avril Davies, who were both part of the action group fighting to keep the hostel open, will be working with and giving support to the group to get the project up and running.
