The Duke of Westminster’s property company, Grosvenor, announced in April that it intends to knock down four blocks of private flats in Cundy Street, Belgravia as well as nearby Walden House, which is occupied by council tenants.
The Save Cundy Street and Walden House group says the firm’s proposed redevelopment will destroy the community.
Liza Begum, 34, who has lived in council-run Walden House since she was born, said her family faced being re-housed outside the area.
“What really upsets me is that Grosvenor say they want to create a village feel, but there already is a village here,” she added.
The company has plans for a new neighbourhood called the Cundy Street Quarter, with shops and restaurants.
A Grosvenor spokeswoman said it had committed to “at a minimum re-providing the affordable housing currently on the site”.
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Melanie de Blank, who lives in the Cundy Street flats, said: “Over our dead body will it happen.”
The blocks were home to 25-year-old Camilla Shand when she invited Prince Charles back for coffee after an evening at Annabel’s nightclub.
Leases on the 111 flats in Lochmore House, Laxford House, Kylestrome House and Stack House end in 2021.
Work to demolish Walden House would start in 2023.